Nigerian bourse begins the week bearish

The Nigerian equities market began the week bearish. The index and the market capitalization closed lower at 41988.18 and N15.07 billion respectively.

Similarly, Market breadth closed in favour of bear, with 16 gainers and 32losers.

Sectoral indices grounded the NSEASI as all indices closed downbeat save for NSEBNK and NSEINS with 1bps and 74bps respectively while NSEOILGAS closed flat.

Top 5 slots of the gainer’s chart were occupied by LINKASSURE (9.09%), LIVESTOCK (5.00%), FIDSON (4.92%), MANSARD (4.91%) and JAIZBANK (4.00%).

On the other hand, the loser’s chart was topped by PZ (-8.00%) trailed by LASACO (-6.06%), ENAMELWA (-4.95%), FCMB (-4.89%) and FBNH (-4.88%).

SKYEBANK,DIAMONDBNK,FCMB, JAIZBANK and ZENITHBANK top the activities chart in terms of volume while ZENITHBANK, GUINNESS, GUARANTY, NB and DIAMONDBNK topped the trade value chart.

Transaction level in terms of volume and value dipped by 64.79 per cent and 71.65 per cent respectively.

Analysts at APT Securities and Funds Limited are of the view that this week should cater for dividend paying stocks ahead of earnings release.