The Nigerian equity market closed trading activities last week on a negative note, as investors’ bearish sentiment was dominant in three 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 Banking sector that appreciated by 0.93%.
The NGX All-Share Index and Market Capitalization and depreciated by 0.04% to close the week at 54,892.53 and N29.903 trillion respectively. Twenty-eight (28) equities appreciated in price during the week, twenty-seven (27) equities depreciated in price while one hundred and two (102) equities remained unchanged, higher than ninety-one (91) equities recorded in the previous week.
The downtrend was witnessed in some medium and large capitalized stocks, amongst which are; NCR (-18.69%), IKEJAHOTEL (18.25%) INTBREW (-6.45%), CADBURY (-5.83%), MULTIVERSE (-5.80%), STANBIC (-5.76%), CHIPLC (-4.62%), LIVESTOCK (-4.59%), AFRIPRUD (-4.17%), FTNCOCOA (-3.57%), NAHCO (-2.44%), BAUCEMENT (-1.61%), HONYFLOUR (-1.33%) DANGSUGAR (-1.08%) and PZ (-0.46%).
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