Valentine’s ‘Week’ Sell Off: Nigerian Stock Market Sees RED..(Check out Chart)

Red Week

It was indeed a red week as The NSE All-Share Index and Market Capitalization both depreciated by 4.92% to close on Friday at 38,767.29 and N12.427 trillion respectively.  Likewise, all of the NSE sector indices depreciated during the week. The NSE 30 depreciated by 5.64% to close at 1,741.97, NSE Insurance by 5.19% to close at 143.58, NSE Oil/Gas by 7.08% to close at 300.54, NSE Lotus II by 1.73% to close at 2,839.39.

The NSE Consumer Goods index depreciated  by 4.91% to close at 996.04, NSE Banking index edged lower by 9.84% to close at 368.56, the NSE Industrial Goods index sheds 2.03% to close at 2,550.76 while the NSE-ASeM closed flat.

More losers than gainers

Sixteen (16) equities appreciated in prices during the week lower than Forty-six (46) equities of the preceding week. Sixty-seven (67) equities depreciated in prices higher than Thirty nine (39) equities of the preceding week, while one hundred and fifteen (115) equities remained unchanged higher than one hundred and thirteen (113) equities in the previous week.