The Nigerian equity market closed trading activities last week on a negative note, as investors’ bearish sentiment was dominant in two out of five trading days. The market negative performance in the previous week was due to investors’ massive sell-off in all the major sectors, excluding the Oil and Gas, Insurance, and Consumer goods, these sectors appreciated by 5.20%, 1.20% and 0.89% respectively.
The NGX All-Share Index and The Market Capitalization depreciated by 0.48% to close the week at 52,214.62 and N28.431 trillion respectively. Forty-eight (48) equities appreciated in price during the week, thirty (30) equities depreciated in price while ninety (78) equities remained unchanged, lower than seventy-nine (79) equities recorded in the previous week.
The downtrend was witnessed in some medium and large capitalized stocks, amongst which are; CILEASING (-19.60%) ACCESSCORP (-12.00%), ROYALEX (-11.48%) BUACEMENT (-8.02%), UNITYBNK (-7.41%), WEMABANK (-5.19%), NB (-4.75%), CHAMS (-3.23%), UNILEVER (-2.96%), UACN (-1.75%), UBN (-1.41%), LIVESTOCK (-0.97%) OANDO (-0.89%) CADBURY (-0.73%), BERGER (-19.60%) and DANGSUGAR (-0.53%).
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