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The local bourse ended the week on a negative note with the benchmark index dipping by 1.46% to 34,136.82 points. The market was mostly bearish on profit taking from retail investors, notably on ZENITHBK (-1.73%), and MTNN (-1.29%). Consequently, year-to-date return and market capitalization settled at 27.60%, and N17.83 trillion, respectively.


A total volume of 344.9million units of shares, valued at N4.22billion exchanged hands in 6,565 deals. ZENITHBANK was the most traded shares by volume and value at 44.3million units and N1.13billion.


Market sentiment was negative as market breadth came in at 2.4x as there were 34 decliners and 14 advancers.

Sectorial performance was bearish as Industrial, Banking, Consumer Goods, Oil & Gas were down by 2.41%, 2.16%, 0.66%, and 0.31%, while the Insurance closed as the lone gainer, up by +1.59%. 

Sector performance

NSE Industrial Index: Down by -2.41% due to the price decline in BUACEMENT (-4.55%) and WAPCO (-2.39%).

NSE Banking Index: Dipped by -2.16%, on sell-offs in ETI (-8.63%), FBNH (-5.23%), FIDELITY (-3.40%) and ZENITHBANK (-1.73%).

NSE Consumer Goods Index: Fell by -0.6%, due to sustained losses in GLAXOSMITHKLINE (-5.41%), DANGSUGAR (-3.30%), and UNILEVER (-3.45%).

NSE Oil & Gas Index: Shed -0.21%, as JAPAULOIL (-6.90%) and OANDO (-2.73%) declined in price.

NSE Insurance Index: Up by +1.53%, on price appreciation in LINKASSURE (+10.00%), NEM (+9.79%), and AIICO (+9.78%).


MorganCapital Research


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