The equities market closed negative for the second week running despite the continued inflow of earning releases and corporate actions. The NSEASI settled 4.51% lower, just as trading activities on the bourse tempered, with volume and value of transactions reducing by 61.56% and 50.93% respectively
Eleven (11) equities appreciated in price during the week, lower than thirty-three (33) equities of the preceding week. Fifty-three (53) equities depreciated in price, higher than thirty-six (36) equities of the preceding week, while one hundred and thirty-two (132) equities remained unchanged, higher than one hundred and twenty-seven (127) equities recorded in the preceding week.
The negative mood in the market was widespread as all sectors, save for Healthcare sector (+4.83%) recorded index declines. Owing to this bearish mood, 54 stocks featured in the negative zone while only 12 appreciated in value (Market breadth of 0.17x).
The Banking sector, which shed 11.13% during the week ended, was the major drag of market performance, with 11 out of the 15 sector stocks closing lower. We attribute the prevailing sell sentiments in the market to profit-taking, and panic selling by investors ahead of the 2015 general elections. We do not see a resurgence in activities in the coming week, largely due to the growing anxiety in the country, as anticipated political headwinds crystallize. We also expect proceedings from the MPC meeting scheduled for next week to form major considerations for the investing public in the subsequent weeks. Source: Meristem/NSE
Here are the top Ten best and worst stocks last week.
| Top 10 Price Gainers | Open | Close | %Change |
| HONEYWELL FLOUR MILL PLC | 2.78 | 3 | 7.91% |
| GLAXO SMITHKLINE CONSUMER NIG. PLC | 40 | 42 | 5.00% |
| COSTAIN (WEST AFRICA) PLC | 0.61 | 0.64 | 4.92% |
| AIICO INSURANCE PLC | 0.87 | 0.9 | 3.45% |
| WEMA BANK PLC | 0.93 | 0.96 | 3.23% |
| CHAMPION BREWERIES PL | 5 | 5.16 | 3.20% |
| ASSOCIATED BUS COMPANY PLC | 0.52 | 0.53 | 1.92% |
| 7-UP BOTTLING COMPANY PL | 154 | 156.01 | 1.31% |
| NESTLE FOODS NIGERIA PLC | 820 | 829.5 | 1.16% |
| NATIONAL AVIATION HANDLING COMPANY PLC | 4.96 | 4.99 | 0.60% |
| Top Ten Price Losers | Open | Close | %Change |
| AFRICA PRUDENTIAL REGISTRARS PLC 3.10 | 3.1 | 2.4 | -22.58% |
| ZENITH INTERNATIONAL BANK PLC 20.60 | 20.6 | 16.49 | -19.95% |
| DANGOTE FLOUR MILLS PL | 3.53 | 2.9 | -17.85% |
| DIAMOND BANK PLC 4.25 | 4.25 | 3.62 | -14.82% |
| FIDELITY BANK PLC | 1.51 | 1.29 | -14.57% |
| UNITED BANK FOR AFRICA PLC | 4.13 | 3.53 | -14.53% |
| MAY & BAKER NIGERIA PLC | 1.79 | 1.55 | -13.41% |
| TRANSNATIONAL CORPORATION OF NIG PLC | 3 | 2.67 | -11.00% |
| R. T. BRISCOE (NIG.) PLC 0.75 | 0.75 | 0.67 | -10.67% |
| UNION BANK OF NIGERIA PLC | 10 | 9.01 | -9.90% |
BUY OR HOLD AFRI PRUD at N2.4???This week would be interesting ! Expecting the beers to dominate before elections