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Stock Market To Continue On Weak Performance This Week

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Going the way of last week, the Nigerian stock market is expected to continue on weak performance. Analysts at Afrinvest Limited stated that “In the

Sectoral performance was relatively positive. Specifically, the NSE Consumer Goods index, the NSE Oil & Gas index and the NSE Industrial index rose by 0.18 per cent, 2.28 per cent and 0.01 per cent respectively to close at 550.13 points, 371.45 points and 1.959.24 points respectively. On the flip side, the NSE Banking index and the NSE Insurance index moderated by 0.96 per cent and 3.39 per cent respectively to close at 373.16 points and 185.09 points respectively.

On the other side, Cornerstone Insurance led the decliners table by 15.79 per cent to close at 48 kobo, per share. UPDC followed with a loss of 10.06 per cent to close at N1.61 and SCOA Nigeria declined by 9.72 per cent to close at N1.30, per share. The Financial Services Industry led the activity chart with 1.136 billion shares valued at N8.201 billion traded in 10,700 deals; contributing 79.68 per cent and 62.73 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 76.520 million shares worth N1.383 billion in 3,076 deals, while Conglomerates pulled a turnover of 58.222 million shares worth N186.293 million in 769 deals.

 

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