NSEASI record 4-month highest daily gain …European indices however witness downtick

The Nigerian capital market witnessed a very strong rally at the trading hour yesterday with virtually all stocks trading at 5% increase in price. This positioned the market in a very bullish trend.

The initial rally in European indices after the ECB loan to commercial banks gave way to losses as the market realized that the loan does not take away the slim capital reserves of the bank which still hinders their ability to lend to each other.

This development will serve as good news to the investing public....

We do hope the trend will be sustained for a while so the market can as well attract confidence and get better from there.