In the just concluded week, the NSE ASI closed higher week-on-week by 1.90% to settle at 38,667.90 points while the YTD loss of the local bourse mellowed to 3.98%.
Notably, bullish proceedings dominated the market amid release of the H1 2021 financial results of some companies which were largely positive.
This, coupled with the N4.00 interim dividend declared by TOTAL, resulting in the equities market index closing northwards for three trading days.
Of the five indices tracked, four closed in green zone: the NSE Oil/Gas increased by 7.53% to close at 363.02 points while the NSE Banking, NSE Consumer Goods and the NSE Industrial indices rose by 0.44%, 0.57% and 4.06% to close at 384.99 points, 597.32 points and 2,001.80 points respectively.
On the flip side, the NSE Insurance index fell by 0.74% to close at 200.02 points.
Meanwhile, trading activity was weak as total deals, volume and value of stocks traded declined by 32.28%, 11.14% and 52.07% to 11,714 deals, 0.89 billion units and N5.23 billion respectively.
In the new week, we expect the equities market to trade positive as investors position ahead in stocks of companies which are expected to pay interim dividends.