Investors’ risk appetite improves, penny stocks receive more bargains
Category: Investors NewsBeat
June 20, 2012
The Nigerian Capital Market opened the week with weak bargain posture, at the end of the today’s trading session, analysis revealed improved positive sentiments as market comfortably regained its breadth amid renewed bargain tendency while market turnover closed positive with increased in Naira votes- an indication of improved market optimism, though laced with speculative propensity.
More so, continued moderate rally was observed towards active and liquid penny stocks, mainly in medium capitalisation category while market closed with WTD performance of 1.54% gain- sustained market optimism was observed when compared with previous mid-week performance of 1.89% gain while YTD performance stands at 3.67% as against 2.74% recorded in the previous week. The improved patronage witnessed towards Dangote Cement Plc so far in the week contributed to the market outlook.
The Stocks on the Hunters’ Radar
Investors’ Trading pattern and psychology:
The profile of top 10 stocks on the investors’ radar suggests improved risk appetite as all the stocks are penny stocks while PZ is the only medium price stocks that made top ten stocks on the investors’ radar, revealing further the sustained patronage towards penny stocks so far in the week.
Analysis of investors’ radar (gainers’ list) revealed dominance of the penny stocks, which futher buttressed the above position.