While GTI Securities Limited stressed that, “the Nigerian equity market closed last week negative on a four consecutive day’s bearish trend, as investors continue to digest the impact of Fed’s decision on the economy. We expect cautious trading and profit taking to continue in the domestic market.”The local bourse was not immune to the rout in global equities, as profit-taking activities dominated trading last week.
However, most of the sector gauges tracked closed negative. The NGX Consumer Goods Index, NGX Banking Index, NGX Insurance Index and NGX Oil & Gas indices decreased by 2.98 per cent, 5.20 per cent, 1.21 per cent and 1.80 per cent respectively to close at 639.38 points, 393.72 points, 176.88 points and 542.80 points respectively.
On the other side, Livestock Feeds led the decliners table by 16.88 per cent to close at N1.33, per share. International Breweries followed with a loss of 14.97 per cent to close at N6.25, while Cutix declined by 10.74 per cent to close at N2.41, per share.