Jan 20 (Lagos) - In 2012, the NSE registered an increase of 35.50% for full year. That seems to be a small target given that The Nigerian Stock Exchange (NSE) All Share Index (ASI) is up by 10.14% so far this year with 3 weeks into 2013. A lot of the gain has come from renewed investor interest in the most capitalized company on the exchange, Dangote Cement Plc (DANGCEM) which rose 11% during the last week.
On Friday, NSE closed higher by 1.99% bringing the year to date to over 10%. The January effect has already hit the markets and investors should be careful while picking stocks because some companies are already hitting multi-year highs.
High dividend hopes will keep investors bullish but companies will have to deliver on that to sustain this kind of investor interest as seen so far in 2013. Volumes have increased tremendously as well and when we see that along with a steep rising curve, it sends a very bullish signal to the market.
reporting for easykobo.com on Sunday, Jan 20 2013 from Lagos, Nigeria