Last week, trading in the equities market was broadly tight with a bearish bias. Buyers appeared to remain cautious following the previous week’s rally while sellers were determined not to book profits following the sustained decline in fixed income yields. That said, the local bourse ended the week on a bearish note, posting a weekly loss of 0.1%. The All-Share Index closed the week at 39,483.1 points while YTD loss moderated to 1.8%. Similarly, investors’ wealth was pressured as market capitalisation dropped N20.5bn w/w to settle at N20.6tn. Activity level improved last week as average volume and value traded weakened by 46.2% w/w and 2.6% w/w to 173.0m units and N2.5tn, respectively.