Transactions on the Nigerian Equity Market closed w/w on a negative note despite the market recorded gains in three out of the four trading sessions in the week. The decline was a result of the significant dip of 0.39% on the early day of the week.
Consequently, the Market Indicators (NSE-ASI and NSE Market Capitalization) decreased by 0.13% w/w to close for the week at 38,866.39 absolute points and N20.34 trillion compared to 38,916.74 absolute points and N20.36 trillion last Thursday. This nominally translates to a week-on-week loss of N26.33 billion in Market Capitalization value.
Of the five major sectors, only the Consumer Goods sector closed positively with a percentage increase of 1.12%, while the other four major sectors closed negatively for the week, which includes, the Banking sector, Insurance sector, Industrial sector and Oil and Gas sector, with percentage decrease of 2.25%, 1.49%, 0.66% and 0.31% respectively.
JAPAULGOLD emerged best performing stock for the week with a w/w gain of 40.00%, while GUINNESS shed 17.27% to emerge as the top loser.
A total turnover of 887.04 million shares worth N9.19 billion in 17,837 deals was traded this week by investors on the floor of the Nigerian Stock Exchange as against a total of 1.45 billion shares worth N19.04 billion in 17,400 deals.
Seventeen (17) equities appreciated at price during the week, lower than forty-two (42) equities in the previous week. Forty (40) equities depreciated in a price higher than twenty-two (22) equities in the previous week, while one hundred and five (105) equities remained unchanged, higher than ninety-eight (98) equities recorded in the previous week
Outlook
We expect mixed sentiment from investors in the coming week, amid profit-taking from recently appreciated stocks and low valued stocks in the market.
