Lagos Bourse Declines by 0.05% as Investors Book Profit on Banking Shares…

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In the just concluded week, the domestic equities market closed southwards as investors booked profit given the recent price increases in blue-chip stocks across sub-sectors, especially banking sub-
sector.

Hence, the NSE ASI tanked week-on-week
by 0.05% to close at 25,591.95 points. Similarly, sub-sector performance was tepid as most of the gauges tracked closed in red save the NSE Industrial index which rose by 0.35% to 1,128.20
points.

The NSE Banking index led the laggards
by 2.69% to close at 293.97 points as most
investors sold off their holdings to take profit on Tier 1 tickers.

Similarly, the NSE Insurance, NSE Consumer Goods and the NSE Oil/Gas indices moderated by 0.66%, 0.27%, 1.25% to close at 134.11 points, 432.11 points, and 191.77 points respectively.

Meanwhile, market activity was mixed as total deals and Naira votes rose by 9.09% and 6.77% to 19,529 deals and N10.84 billion respectively.

However, total value of stock traded moderated by 2.32% to 1.22 billion shares.

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