The bourse maintained bearish sentiment from the previous week despite the release of some impressive financials and attractive proposed dividends.
During the week, Dangote Cement Plc and Africa Prudential Plc released their respective 2018 year end results, which showed 11.87 percent and 91.10 percent revenue and post tax profit respectively for Dangote Cement and 35.28 percent and 13.89 percent gross earning and profit after tax growth respectively for African Prudential.
Similarly, the equities capitalisation fell by N257 billion or 2.12 percent to close at N11.869 trillion on Friday.Reacting, analysts at Lagos based investment firm, Vetiva Capital Management said: “Given the reaction of investors to the election results last week, we highlight the possibility of negative sentiment trickling down into the market this week.
Mr. Chinenye Anyanwu, Managing Director/CEO, Dependable Securities, doubted the possibility of early return to the green zone without change of governance style by the incumbent president, Muhammadu Buhari.
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