| The bearish trend for the most part of May was sustained, as the NSEASI declined by 6.38%, dragging the YtD return to the negative region at -3.73%. The market breadth settled at 0.48x, with twenty-five (25) gainers and fifty-two (52) losers in the week.
ETERNA emerged as the best performing stock, as the ticker advanced by 20.11% to close at NGN6.33. On the other end of the spectrum, INTBREW led the laggards, with a share price decline of 22.39% to close at NGN40.20. The month of June kicked off on a bearish note as the NSEASI declined significantly on the first trading day of the month by 3.38%, depressing many stock prices to their year-low levels. This week, we expect bit of panic sell-offs, as investors cash gains on their investment. However, we also envisage bargain hunting activities across the heavyweight counters in the banking and consumer goods sectors. We expect this to offset the impact of profit taking across other sectors in the market.After a paragraph |