THE local bourse reversed prior week’s gains as the All-Share index declined by 1.10 percent week-on-week (W-o-W) to close at 67,395.74 basis points. Concomitantly, the total market capitalisation of listed equities experienced a decline of N400 billion week-on-week to close at N36.886 trillion. On the contrary, the NGX Banking index was hardest hit in the week as the index lost 3.24 percent week-on-week. However, market breadth for the week was negative as 32 equities appreciated in price, 53 equities depreciated in price, while 70 equities remained unchanged. Capital market analysts had predicted cautious trading on the Nigerian stock market last week, in the absence of strong positive triggers to boost investors’ appetite for risky assets.

Source: Nigerian Tribune September 18, 2023 07:18 UTC