NSE-Week-Ahead: Lagos Stock Exchange greenish as investors await positive corporate performances

Employees work on the trading floor at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria, on Tuesday, April 2, 2019. The International Monetary Fund said Nigerias economy was growing too slowly to reduce poverty or joblessness and urged the government to boost revenue and scrap its system of multiple exchange rates. Photographer: Ruth McDowell/Bloomberg via Getty Images

as Local Bourse Sheds 232bps amid Sell-0ffs last week

In the just concluded week, the Nigerian bourse waned amid renewed bearish performance as investors watched from the sidelines in anticipation of a positive trigger. Hence, the main market index, NSE ASI, moderated to 29,270.95 points, having lost 2.32% w-o-w. Amongst the five sector-gauges, only the Industrial sector closed in positive territory; its increased by 3.28% to 1,123.49 points.

However, NSE Insurance Index, NSE Consumer Goods Index, NSE Oil/Gas Index and NSE Banking Index closed in negative territory as they plummeted by 0.97%, 2.84%, 0.75% and 5.44% to 122.55 points, 604.68 points, 251.34 points and 346.90 points respectively.

Market activities remained weak as total transaction volumes and Naira votes plunged by 11.85% and 21.52% to 1.16 billion shares and N9.91 respectively; however total deals increased by 4.32% to19,375 deals.

In the new week, we expect the local equities to rebound as we draw closer to earnings season and investors await positive corporate performances.

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