Nigeria’s equities market on Friday closed largely flat, albeit with bearish tilt as the benchmark index dipped by 0.01% w/w to 31,139.35.
Save for Friday, the ASI closed negative in all sessions. Thus, the MtD and YtD losses increased marginally to 1.84% and 0.93%, respectively.
On sectoral breakdown, losses across the Oil & Gas (-3.95%), Insurance (-1.09%), and Consumer Goods (-2.30%) indices, neutered gains in the Banking (+3.82%) and Industrial Goods (+2.42%) indices.
In the absence of a positive catalyst, market watchers guide investors to trade cautiously in the short term, adding however that stable macroeconomic fundamentals and compelling valuation remain supportive of recovery in the mid-to-long term.