Nigeria’s equities market closed the trading week ended Friday November 20 in red as investors booked about N471billion loss.
The record negative close came despite tier 1 lenders releasing their nine months (9M) financial results.
The Nigerian Stock Exchange (NSE) All-Share Index depreciated by -2.57 percent, from 35,037.46 points at the beginning of the review trading week to 34,136.82 points at the end of the week’s trading session.
In the trading week under review, all the NSE sectoral indexes closed in the red zone, except that of NSE Insurance which closed slightly in the green.
Also, the value of listed stocks on the Bourse decreased by N471billion, from N18.308trillion to N17.837trillion.
The market’s positive return year-to-date (YtD) stood lower at +27.18 percent; though month-to-date (MtD), the stock market of Africa’s largest economy has rallied by +11. 81 percent.
Stock investors will continue to price-in the tier 1 banks’ results, which will further dictate the direction of the market.
