- The NSE All-Share Index and market capitalisation depreciated by 2.12% to close the week at 31,827.24 and N11.869 trillion respectively.
- Al market stocks finished lower with the exception of the Insurance and Industrial Goods indices.
- The bearish run was caused by investors' disappointment to the outcome of the presidential election.
The Nigerian equity market closed negative last week following three trading sessions of profit taking and investors' disappointment to the outcome of the presidential election.
The bearish run was investors' sentiment to President Muhammadu Buhari’s re-election when the Independent National Electoral Commission (INEC) announced the results on Wednesday.
The NSE All-Share Index and market capitalisation depreciated by 2.12% to close the week at 31,827.24 and N11.869 trillion respectively.
Similarly, all other indices finished lower with the exception of the NSE Insurance and NSE Industrial Goods indices which rose by 3.01% and 0.93% respectively while the NSE ASeM (Alternative Securities Market) index closed flat.
Business Insider Sub-Saharan Africa by Pulse's analysis of the stock market shows that Cornerstone Insurance Plc led the gainers' table, gaining 19.05% at the end of the week while Transnational Corporation of Nigeria Plc (Transcorp) led the laggards by 14.48%.
During the trading period, twenty-six (26) equities appreciated in price, lower than thirty-four (34) in the previous week.
Here's a look at the best and worst stocks for last week:
Best performing stocks for the week
- CORNERSTONE INSURANCE PLC - 19.05%
- LIVESTOCK FEEDS PLC 15.52%
- VERITAS KAPITAL ASSURANCE PLC 14.29%
- C & I LEASING PLC 9.98%
- NEIMETH INTERNATIONAL PHARMACEUTICALS PLC 9.84%
Top losers last week
- TRANSNATIONAL CORPORATION OF NIGERIA PLC - 14.48%
- NPF MICROFINANCE BANK PLC - 12.73%
- OANDO PLC -11.54%
- UNILEVER NIGERIA PLC - 10.00%
- GOLDLINK INSURANCE PLC - 8.33%