Equities market records positive outing in February

The Nigerian equities market for the month of February recorded an appreciation of N0.258 trillion. It opened on Monday February 1, 2016, with a market capitalization of N8.194 trillion and closed on Monday, February 29 at N8.452 trillion. Investors in the market smiled home at the end of the month as the market embarked on a positive rally for three days running, beginning from Friday, February 26, till yesterday March 1, 2016, when the market closed again on a positive note of N8.544 trillion, an appreciation of N0.062 trillion, over Monday’s capitalization figure of N8.452 trillion.

Market analysts attributed the prevailing bullish run to investors’ drive to take position ahead of probable positive earnings released by listed companies.

Late last year, market watchers predicted that the market would experience a rebound in the second quarter of 2016, and from what is trending now in the market, there are strong signals that their predictions may come to pass.