Equities Market Extends Bearish Performance On Sustained Profit Taking Activity

The Nigerian equities market last week continued its bearish run for the second consecutive week, amid sustained profit taking activity.

Sector performance was mixed for the week. The Insurance index gained 0.86 per cent as investors took position in NEM Insurance and Aiico Insurance. Oil & gas index was up by 0.28 per cent on the back of bargain hunting in Forte Oil, while the Banking index rose by 0.01 per cent as investors took position in Guaranty Trust Bank and Access Bank. On the flip side, the Industrial Goods index shed 4.

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