MARKET UPDATE 37
Global& Local EconomicTransition weigh down Emerging Markets The Nigerian equity market continued to trend downward as it remained in the bearish territory, despite the mixed performance recorded for the week when it closed trading on Friday positive. The market in this mood failed to respond to last week's inauguration of the maiden federal executive council to pilot the affairs of the nation and revitalise the declining economy and influence the market, going forward. It is immediately clear whether this is the market's way of saying the wait was too long, coming almost six months after the May 29 inauguration of the Muhammadu Buhari administration. The bears retained controlof market tempo,as more equities shed weight, despite the two bull sessions witnessed in the course of the week. The Composite NSE ASI traded below its 29,000 resistance zone to 28,841.67 within the period, while still forming a double bottom at the new support level that ...