The Nigerian equity market closed trading activities last week on a negative note. The market opened for four trading days this week as the Federal Government of Nigeria declared Friday 21st and Monday 24th April 2023 as Public Holidays to mark the Eidel Fitr 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 and NGX Insurance that appreciated by 0.17% and 1.41%.
The NGX All-Share Index and The Market Capitalization depreciated by 1.08% to close the week at 51,355.74 and N27.963 trillion respectively. Thirty-five (35) equities appreciated in price during the week, thirty-one (31) equities depreciated in price while ninety (90) equities remained unchanged, lower than one hundred and three (99) equities recorded in the previous week.
The downtrend was witnessed in some medium and large capitalized stocks, amongst which are; CHAMPION (-10.14%), VITAFOAM (-8.65%), AIICO (-6.78%), MTNN (-6.67%), REGALINS (-6.45%), MBENEFIT (-5.88%), CWG (-4.35%), CUTIX (-4.35%), CHAMS (-4.00%), SEPLAT (-3.02%) UNILEVER (-1.94%), ARDOVA (-1.76%), UACN (-1.25%), OANDO (-1.07%) and UCAP (-0.42%).
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