In the trading week ended Friday June 18, the stock market of Africa’s largest economy decreased by 1.30 percent amid sessions of bargains and profit taking activities.
After a negative take off to the holiday shortened trading week, the market still recorded consecutive sessions of positive closes on bargain hunting activities.
Amid this performance, market watchers foresee investors coming to the stock market to sell on Monday, possibly ushering in bearish session.
In the review trading week, all the Nigerian Exchange Limited (NGX) sectoral indices closed in the green zone, except NGX Industrial (-0.06percent).
The NGX banking index rose by 1.09 percent, NGX Consumer Goods (+0.25 percent),
NGX Insurance (+0.76 percent), and NGX Oil & Gas (+1.05percent). Likewise, NGX Pension rose by 0.61 percent.
Month-to-date (MtD), the market has decreased by 2.99 percent while the negative return year-to- date (YtD) stood at – 4.03 percent.
In the review trading week, the NGX All Share Index closed lower at at 38,648.91 points while the value of listed stocks decreased to N20.143trillion.
