Equities Market Index Falls by 0.12% amid Renewed Bearish Activity…


In the just concluded week, bearish sentiment dominated the equities market as investors took profit following the previous week gains.

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Hence, the NSE ASI moderated week-on week
by 0.12% to close at 37,947.18 points while the YTD loss of the local bourse worsened to 5.77%.

Breakdown across sub-sector gauges
tracked indicated that three out of five indices tracked closed in red zone.

The NSE Insurance, NSE Consumer Goods and the NSE Industrial indices moderated by 1.07%, 0.85% and 0.30% to close at 201.51 points, 593.93 points and 1,923.73 points respectively.

On the positive side, the NSE Banking and the NSE Oil/Gas indices rose by 0.09% and 1.01% to 383.30 points and 337.61 points respectively.

Meanwhile, trading activity was weak as total deals, volume and value of stocks traded declined by 19.85%, 25.17% and 10.03% to 17,297deals and 1.00 billion units and N10.92 billion respectively.

In the new week, we expect the equities market to trade positive as investors position ahead in stocks which are expected to pay interim dividends.

Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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