Stock Market Appreciates by N62bn as Investors’ Sentiment Persist – THISDAYLIVE

The Nigerian equities market ended last week positively, gaining N62 billion in market capitalisation amid weak investors sentiment trading in some highly capitalised stocks.

Across the sectors last week, sentiment was largely downbeat for most of the indices as NGX Insurance, NGX Banking and NGX Consumer Goods indices lost 3.32 per cent, 0.9 per cent and 0.63 per cent week on week respectively. On the other side, FTN Cocoa Processors led the decliners table by 15.15 per cent to close at 28 kobo, per share. Prestige Assurance followed with a loss of 13.04 per cent to close at 40 kobo, while Japaul Gold & Ventures declined by 11.76 per cent to close at 30 kobo, per share.

The Consumer Goods Industry followed with 78.603 million shares worth N2.218 billion in 2,993 deals, while the Conglomerates Industry pulled a transaction of 59.564 million shares worth N110.109 million in 788 deals. They are of the view that market players are looking forward to full-year audited results of listed companies with December year-end to start rolling in any moment from next week. Just as January inflation report is also expected to hit the market next week.

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