Nigeria’s stock market finished the trading week on Friday, April 12, in the red, down 1.09 percent. Over N638 billion was booked as a loss by investors during the review trading week.
Due to public holidays and the Eid Mubarak market, the market only traded for two days during the review week. However, a notable decrease in consumer goods, banking, and insurance companies contributed to the market’s downward movement.
Prior to the review week’s trading, Futureview research analysts had stated that they expected the equity market to perform mixedly “as investors respond to fresh corporate actions and adjust their positions strategically in anticipation of dividend payouts.
“Investment decisions for the near future are probably going to be influenced by a shift in attention toward the fixed income market.
“Nonetheless, we foresee a return of purchasing interest in the shares market, fueled by impending corporate activities and earnings reports that will draw investors eager to profit from dividend payments. Our advise to investors is to consider investing in high-quality stocks with good fundamentals,” the analysts stated.
From their respective week-open highs of 103,437.67 points and N58.498 trillion, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalization fell to 102,314.56 points and N57.860 trillion. The stock market has dropped by 2.15 percent so far this month (MtD). The market’s year-to-date (YtD) return was 36.83 percent, which was less than expected.
