Stock Recommendation – Monday, 1st November, 2021

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Last week, the Nigeria equity market sustained the week-on-week rally to seven consecutive weeks following the investors’ positive sentiments in four of the five trading sessions.

The rally was impacted by the reactions to the positive Q3 earnings reports and the slowdown in the recent 364-days NTB paper auctioned by the CBN by c.26bps to 6.99% from the previous NTB auction.

In that regard, the All-Share Index grew by 275.34 basis points, representing an increase of 0.66% to close at 42,038.60.

While the Market Capitalization gained ₦144.04 billion, representing a growth of 0.66%, to close at ₦21.94 trillion.