Nigeria’s stock market decreased by 0.45percent in the trading week ended Friday, April 8 as investors failed to raise bet on some of the value stocks seen trading at their new lows.
The market rout seen this month caused about N114billion aggregate loss on the Nigerian Bourse in the review week.
The record dip was driven majorly by insurance stocks which led to 1.84percent dip in the sector’s index, followed by industrial stocks as the sector’s key performance index decreased by 0.42percent.
Likewise, NGX Consumer goods Index was down in the review trading week by 0.35percent.
Meanwhile, bargain in banking stocks pushed the sector’s key index higher by 1.60percent while NGX Oil & Gas index rallied most by 3.14percent.
Read also: Stocks seen yielding to sell pressure
The equities market capitalisation which opened the review week at N25.253trillion decreased by N114billion to N25.139tillion on Friday April 8.
The equities market’s benchmark performance indicator – Nigerian Exchange Limited (NGX) –All Share Index (ASI) also decreased week-on-week from week-open high of 46,842.86 points to 46,631.46 points as at Friday April 8.
The record dip pushed market’s positive return year-to-date (YtD) to new low of 9.17percent.