Mid Week Review - Penny stocks dominate investors’ Radar so far in the week.
Category: Daily & Weekly Market Updates
June 13, 2012/Proshare Research
Activity on the Nigerian Capital Market opened the week on a bullish note as bargain hunters returned, ending the long price correction trend which recently dipped market by N532.20billion in twenty-three sessions.
At the end of the today’ session, analysis revealed mixed market sentiments (feeble optimisms) as market breadth swings in and out of red zone while active bargain is yet to establish firm hold across the sectors.
Nevertheless, sustained moderate rally was observed towards penny counters and active stocks in the big and medium capitalisation category while market closed with WTD performance of 1.89% gain and YTD performance of 2.74% gain.
However, we envisage sustained moderate bargain to dominate the last trading days for the week as more of value stocks are joining gainers’ list while we observed improved trend in daily average volume traded.
The Stocks on the Hunters’ Radar
Investors’ Trading pattern and psychology:reveals crave for penny stocks
The profile of top five stocks on the investors’ radar revealed growth in investors’ risk appetite as all the stocks are penny stocks while only Ashaka Cement and Dangote Cement are the medium and high price stocks that made top ten stocks on the investors’ radar, revealing further the increase patronage towards penny stocks so far in the week.
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