The Nigerian equity market closed trading activities for last week bearish, as investors negative sentiment was also dominant in four of the five trading days.
The market negative performance in the previous week was due to investors’ massive sell-off in all the major market sectors, led by the oil and Gas and the Industrial Sector, which declined by 4.68 % (w/w) and 2.08% (w/w) accordingly.
Forty-two (42) equities depreciated in price higher than Thirty-nine (39) in the previous week, while ninety-seven (97) equities remained unchanged lower than one-hundred and four (102)equities recorded in the previous week.
Furthermore, the NGX All-Share Index and Market Capitalization depreciated by 0.91% to close the week at 49,026.62 and N26.445 trillion respectively.
The downtrend was influenced by losses recorded in some medium and large capitalized stocks, amongst which are;
ACADEMY (-22.73%), NGXGROUP (-13.92%), CADBURY (-1382%), BUACEMENT (-10.39%), CWG (-10.00%), CHAMS (-10.00%), ABCTRANS (-10.00%), TOTAL (-9.98%), BERGER (-9.85%), LEARNAFRCA (-9.71%), UPL (-9.44%), JAIZBANK (-714%), GTCO (-6.09%), GUINESS (-5.57%), and LIVESTOCK (-3.48%).
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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