In the just concluded week, the equities
market sustained its weak performance amid
Specifically, sell pressure on
bellwethers dragged the benchmark index
lower; hence, the NSE ASI declined week-on
week by 2.56% to close at 37,658.26 points
while the YTD loss of the local bourse
worsened to -6.49%.
performance was mostly bullish as three out of the five indices tracked closed in the green zone; the NSE Banking, NSE Consumer Goods and the NSE Oil/Gas indices advanced by 0.92%, 0.57% and 0.12% to close at 365.83 points, 571.60 points and 314.58 points respectively.
On the flip side, the NSE Insurance and the NSE Industrial indices fell by 0.83% and 3.33% to close at 199.26 points and 1,951.41 points respectively.
Meanwhile, trading activity was mixed as total deals and volume of stocks traded rose by 14.43% and 2.53% to 17,165 deals and 1 billion units respectively; albeit, the value of stocks fell by 0.52% to N10.32 billion.
During the course of the week, the entire 29,431,179,224 issued shares of GTB were delisted from the Daily Official List of the Nigerian Exchange Limited (NGX) on June 24, 2021, while GT Holdco’s entire issued share capital of 29,431,179,224 ordinary shares of 50 Kobo each were listed on the Daily Official List of NGX on the same date.
In the new week, we expect the equities market to trade positive as investors position in stocks of companies likely to pay interim dividends.