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The Nigerian Stock Exchange All Share Index and market capitalisation declined by 4.28% to close the week at 26,216.46 and N13.658 trillion respectively4. This rise was primarily driven by the Financial Services industry, particularly Guaranty Trust Bank Plc, United Bank for Africa Plc, and Zenith Bank Plc, which comprised 82% of the total trade volume valued at N17.2 billion. Despite this, the top six price gainers were mostly non-financial services firms including May & Baker Nigeria, Ekocorp, Neimeth International Pharmaceuticals, BUA Cement, and Ardova Plc. As the equities prices continue to drop, the dividend yields will remain attractive not only to local investors but also to global portfolio managers which will drive improvements in market activities.
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