Dec 22 (Lagos) - As we approach close of market early today being the last working day before Christmas, we have to be thankful for the Santa clause rally that occurred over the past week and also for the bonanza 2023 has been for stock market investors.
The Santa Claus rally really arrived last week and although the breadth of the rally was narrow it did take some stocks "to the moon" literally. Among those chosen stocks were
TRANSCORP ,
FIDELITYBK ,
UBA ,
ACCESSCORP ,
NAHCO ,
TRANSCOHOT ,
UCAP & and even some small caps like
MULTIVERSE &
DAARCOMM while overall the Banking stocks remained resilient.
Santa Claus rallies usually give up their gains as soon as they catch them so it will play on minds of investors next week and month. While the cynics would not believe in such a thing as a Santa rally, others would clearly point out that it does occur but may not occur every year.
Investors will hope for the rally to continue next week when we return after the Christmas break as there are still 3 trading sessions left in 2023. Some may be coming back to sell some of these stocks before the reality sets in and markets starts looking for numbers rather than sentiments.
WE AT EASYKOBO.COM WISH ALL OUR MEMBERS ANS VISITORS A MERRY CHRISTMAS, STAY SAFE AND RECHAGE WELL AS WE ARE JUST GETTING STARTED.
reporting for easykobo.com on Friday, December 22 2023 from Lagos, Nigeria