Market Capitalization Gains N192billion As Equities Sustain Dogged Rally

Market capitalization gained N192 billion to close at N8.736 trillion, compared to the rise of N92 billion recorded the preceding day to close at N8.544 trillion.

According to stock analysts, equities market sustained its rally for the fifth consecutive day, driven by increased activities in dividend paying counters ahead of the impending earnings season.

Investment analysts at United Capital said, “While we anticipate current momentum will extend a little further, we expect to see some profit taking in the near term as investors look to book profits and the market hits the overbought region.

“Thus current dynamics calls for caution especially for tactical and speculative plays,” the firm added.