The Nigerian equity market closed trading activities for last week on a negative note, as investors’ bearish sentiment was also dominant on four out of the five trading days.

The market negative outturn for last week can be attributed to investors’ sell-off sentiment in all the major market sectors, excluding the banking and industrial goods sectors which appreciated by 0.65% and 0.28% respectively, as investors’ wealth was down by N158.30 billion.

A total of 41 stocks were down last week, higher than 26 stocks recorded the previous week.

Furthermore, the Market Indicators NGX-ASI declined by 0.59% w/w to close for the week at 49,370.62 absolute points compared to 49,664.07 absolute points the previous week.

While the Market Capitalization also decreased by 0.59% w/w, to close at ₦26.63 trillion as against ₦27.79 trillion the previous week.

BUY: This means the upside potential of the stock over the next 12 months is significantly high when the current price is compared to our fair value. Hence, investors may take positions in these stocks.

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