Market/Economic Insight: The weekly brief ( September 3rd – 7th 2018)

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The performance of the Nigerian Equity Market remained bearish last week with the index (NSE ASI) down by 2.33% WTD to close at an index level of 34,037.91 and Market
capitalization at N12.43 trillion.

The sectoral performance was negative as bearish sentiments were witnessed in all sectors. The Oil & Gas sector recorded the highest decline amongst NSE indices
with the NSE Oil & Gas Index down by 3.68% WTD, owing to significant price depreciation in SEPLAT (-7.23%).

The market activities were characterised by profit-taking on 4 out of 5 trading sessions last week. This is majorly driven by sell-offs in blue-chip stocks in the Oil &Gas sector and
Consumer Goods sector during the week.

In the global space, equities markets traded on a bearish note as all market within our coverage closed the week in the red territory as trade wars between US and China intensified during the week, with the Donald Trump ready to impose another $267 billion tariffs on Chinese goods.