Equities market opened the week on a negative note amid nationwide protest

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The All Share Index (ASI) declined by 27 bps closing at 28,337.49 while market capitalization shed N40.68bn to close at 14.81 trillion amidst extended profit-taking and business disruptions brought by ‘ENDSARS’ Protest.

Equities market opened the week on a negative note amid nationwide protest - Brand Spur

Sector performance was bearish with 4 out of the five sectors closing in the negative territory. Insurance and industrial indices waned by 1.78% and 0.54% respectively on due to selloffs MANSARD AND BUACEMENT.

Aisha-Yesufu-EndSARS-Nigerian Bourse extends bearish trend amid nationwide protest BRANDSPURNG1
Source: PFI Capital, NSE

Similarly, Consumer Goods and Banking indices declined by 0.91% and 0.06% on the back of negative sentiment in the shares of flourmill and GUARANTY. Oil and gas index however advanced by  1.36% as investors scramble for ETERNA and SEPLAT stocks.

MARKET SNAPSHOT

  • Nigerian bourse extends bearish trend amid nationwide protest
  • Bond Market traded bullish on mid to long term maturities
  • Stocks advance amid a mega-cap rally in the US
  • Oil Slides Below $40 With Supply Disruptions Subsiding
  • Naira depreciated against USD in the parallel but maintained stability in I&E window