Market Cap. Added N219.73 billion on Renewed Positive Sentiment…

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

In the just concluded week, the domestic equities market closed positive on renewed bargain hunting activity.

Hence, the local bourse advanced by 1.87% week-on-week, resulting in increase of the NSE ASI to 23,021.01 points.

Of the five sub-sectored indices, three closed in green territory: NSE Banking index, NSE Insurance index and NSE Oil/Gas index grew by 3.83%, 1.27% and 1.70% respectively to 271.57 points, 121.88 points and 209.13 points respectively.

However, the NSE Consumer Goods
and NSE Industrial indices tanked by 1.42% and 0.47% respectively to 371.12 points and 1,012.59 points respectively.

Elsewhere, market activity was weak as total deals, transaction volumes and Naira votes moderated by 17.33%, 15.35% and 29.23% to 17,023 deals, 1.01 billion shares and N9.89 billion respectively.
13,500 12,800 12,100 11,400 10,700 10,000
29,000 26,700 24,400 22,100 19,800 17,500

In the new week, we expect the domestic equities market to close positive as investors continue to respond to the positive Q1 2020 financial results released thus far.

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