The Nigerian equities market closed last week in the negative territory, following the losses recorded on all five (5) trading days.
The All-Share Index dipped by 3.39%, settling the YtD return lower at +12.77%. Similarly, the market breadth closed at 0.34x, reflecting twenty-three (23) gainers and sixty-eight (68) losers.
Linkage Assurance emerged the top gainer in the week with a 25.00% price appreciation, pushing its price up to NGN0.85. Caverton (+20.97%), Prestige (+16.67%), Unity Bank (+10.24%) and Transnational Express (+9.88%) also featured on the gainers’ chart.
Conversely, Hallmark Insurance was the worst performing stock in the week, as its price dipped by 27.08% to close at NGN0.35. Other losers in the week were Skye Bank (-25.17%), UNIC (-21.74%), Multiverse (-16.67%) and WAPIC (-14.67%).
At the close of trades last week, all NSE sectors indices closed in the negative region. The banking index (NSEBNK10) shed 3.41%, the consumer goods index (NSEFBT10) shed 2.60%, the oil and gas index (NSEOILG5) shed 1.27%, the insurance index (NSEINS10) shed 0.73% and the industrial goods index (NSEIND) shed 3.52%.
The banking and industrial goods sectors which account for c.64% of the market, dragged the performance of the Nigerian Bourse last week. Nonetheless, sell-offs witnessed across other sectors in the market dampened the overall market mood.

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