Equities that traded on the floor of the Nigerian Stock Exchange (NSE) for the week-ended July 27, 2018 ended positive with 0.09 percent marginal gain, week on week.
Following the positive trade, the Market Capitalisation of equities on the main board inched up to close the week at N13.26 trillion.
However, it was a moment of respite as the negative aura of the bears is yet to evaporate totally. The bears tightened grip on market breadth as more equities closed red in the course of the trading week.
Specifically, a total of 1.42million shares Ordinary valued at N16.739billion in 19,832 deals were traded during the week in review, compared to a 1.67million Ordinary shares worth N14.83billion naira in 18,795 deals the previous week.
It was a mixed grill for all Sectoral indices, as the NSE All-Share-Index (ASI) commenced the trading week on a positive note, Monday with a gain of 0.30percent.
The bourse then swayed southwards in the second and third trading sessions; lost -0.70percent and 0.30percent respectively. Subsequently, the index inched up in the fourth and fifth trading sessions; gained 0.22 percent and 0.58percent respectively.
Even though the market maintains waves between the north and south poles, some signs of improvement are evident from the market performance during the week’s trading sessions.
It will be notable to point out that some stocks are undergoing corrections and it will be advisable to tread with caution in taking advantage of stocks that have shed weight over the week.