By Modupe Gbadeyanka
As the earnings season wraps up, the Nigerian Stock Exchange (NSE) is anticipated to close this week trading on a negative note.
According to analysts at Cowry Asset, this is despite the attractive valuations and dividend yields following the conclusion of the 9 months corporate earnings season.
Last week, the local bourse closed 2.18 percent lower week-on-week as investors’ sentiment was negative despite the positive corporates’ earnings.
The overall market performance measure, NSE ASI, closed lower at 32,124.94 points while market capitalization shed N261.67 billion to close at N11.73 trillion.
Hence, NSE Industrial Index, NSE Consumer Goods Index and NSE Insurance Index fell by 7.95 percent, 4.18 percent and 1.91 percent to 1399.15 points, 714.57 points and 121.92 points respectively.
However, NSE Banking Index and NSE Oil & Gas Index rose by 0.74 percent and 1.39 percent to 419.29 points and 289.85 points respectively.
Elsewhere, market turnover increased as Naira votes rose w-o-w by 33.69 percent to N20.35 billion; however, total deals and traded volumes fell w-o-w by 9.22 percent and 12.01 percent to 15,088 deals and 1.27 billion shares respectively.
Dipo Olowookere 
Adedapo Adesanya