In the four-day trading week ended Friday April 9, investors in Nigeria’s equities market booked loss of about N26billion amid a mix of bargain hunting and bearish sentiment that characterised the market.
Despite closing in green (+0.17percent) on the last trading day of the review week, market watchers do not rule out the possibility of further profit-taking taking at the beginning of a new week.
Banking stocks were worse off in the review trading week as evidenced in the sell pressure which pushed the sectoral index lower by 2.25percent, followed by Insurance sector index which was down by 1.49 percent week-on-week.
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On the bargain side, investors hunted for consumer goods stocks which pushed the sector’s index higher by 1.12percent.
While NSE Industrial Index decreased by 0.66percent in the review week, Oil & Gas Index was also down by 0.31percent.
The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalisation depreciated from week-open highs of 38,916.74 points and N20.361 trillion respectively to 38,866.39 points and N20.335trillion. The NSE ASI decreased by 0.13percent while listed stocks value decreased by N26billion.
