In the just concluded week, the equities market reversed the previous week’s gain as bearish sentiment dominated transactions.
The NSE ASI moderated week-on-week by 1.30% to close at 38,648.91 points while the YTD loss of the local bourse index worsened to -4.03%.
However, sectoral performance didn’t mirror the overall market performance as four out of the five indices tracked closed in the green zone; the NSE Banking, NSE Insurance, NSE Consumer Goods and the NSE Oil/Gas indices rose by 1.09%, 0.76%, 0.25% and 1.05% to close at 362.51 points, 200.93 points, 568.35 points and 314.21 points respectively.
On the flip side, the NSE Industrial index fell by 0.05% to close at 1,951.41 points.
Meanwhile, trading activity was weak as total deals, volume and value of stocks traded fell by 15.98%, 7.29% and 19.08% to 15,001 deals, 0.98 billion units and N10.38 billion respectively.
In the new week, we expect the equities market to trade positive as investors position in stocks of companies likely to pay interim dividends.