The Nigerian equity market closed trading activities last week on a negative note, as investors’ bearish sentiment was dominant in three out of four trading days. The market opened for four trading days this week as the Federal Government of Nigeria declared Friday 7th April 2023 and Monday 10th April 2023 as Public Holidays to mark the Easter celebration. The market negative performance in the previous week was due to investors’ massive sell-off in all the major sectors, with the exception of NGX Consumer Goods that appreciated by 0.05%.
The NGX All-Share Index and The Market Capitalization depreciated by 2.08% to close the week at 51,893.94 and N28.268 trillion respectively. Eighteen (18) equities appreciated in price during the week, thirty-nine (39) equities depreciated in price while ninety-nine (99) equities remained unchanged, lower than one hundred and three (103) equities recorded in the previous week.
The downtrend was witnessed in some medium and large capitalized stocks, amongst which are; CONSOLIDATED HALLMARK INSURANCE PLC (-13.64), NEIMETH (-10.34%), MAY& BAKER NIGERIA PLC (-10.00), AIRTELAFRI(-10.00%), CADBURY NIGERIA PLC (-9.73%), NPF MICROFINANCE BANK PLC (-9.47%), CWG PLC (-8.00%), FCMB GROUP (-7.79%), LAFARGE AFRICA PLC (-7.75%), and ROYAL EXCHANGE PLC (-7.78%).
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