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Equities Market To Close Bullish This Week

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Investment analysts have said that activities in the nation’s stock market will be bullish this week over positioning by investors in interim dividend

Consequently, the All-Share Index shed 224.64 points or 0.57 per cent week-on-week to close at 39,261.01 points. Similarly, market capitalisation decreased by N117 billion to close at N20.456 trillion.

The NSE Oil & Gas, NSE Consumer Goods and the NSE Industrial indices plummeted by 2.96 per cent, 1.34 per cent and 0.08 per cent to 378.99 points, 190.07 points and 1,976.72 points respectively. On the other side, the NSE Insurance index closed in the green with a gain of 0.79 per cent to 191.58 points.

On the other side, Oando led the decliners table by 15.21 per cent to close at N4.07, per share. Mutual Benefits Assurance followed with a loss of 12.50 per cent to close at 28 kobo and Courteville Business Solutions declined by 12.12 per cent to close at 29 kobo, per share. The Financial Services Industry led the activity chart with 615.594 million shares valued at N4.188 billion traded in 9,021 deals; contributing 45.99 per cent and 48.42 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 253.392 million shares worth N280.789 million in 1,126 deals, while Consumer Goods traded a turnover of 185.854 million shares worth N1.593 billion in 4,107 deals.

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