After strong sell-offs last Thursday, the NSEASI reached its lowest point of 31,864.80, intensifying the losses in the year. Consequently, the NSE-All Share Index pared by 0.44% this week to settle the Year-to-Date return at -16.17%.
The market breadth settled at 0.67x, reflecting twenty-four (24) gainers as against thirty-six (36) decliners for the week.
Unity Bank emerged as the top outperformer, after appreciating by 30.99% to close at NGN0.93. Flour Mills (+11.69%), Prestige (+9.80%), GlaxoSmithKline (+9.55%) and WAPIC (+9.09%) trailed behind.
Conversely, Diamond Bank (-29.69%), CI Leasing (-26.43%), Eterna (-17.43%), Veritaskap (-14.81%) and UPL (-11.93%) topped the laggards’ chart this week.
Market watchers posit that increased debt offerings, the rising yield in the fixed income market and mounting political uncertainties have driven most investors to seek less risky and high yielding instruments.
Following the primary market T-bills auction and the Eurobond book building on Thursday, the NSEASI hit its lowest point in the year, as investors made a switch in their investment classes.

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