The trading week in the Nigerian equities market concluded on a negative note, as the All-Share Index recorded a 26 basis point decline, closing at 59,206.63 points, down from the previous session’s 59,361.55 points. This marked the first bearish closure of the week.
The day’s downturn was driven by investors who opted to take profits on major stocks, including TOTAL (-0.21%), STANBIC (-4.07%), GTCO (-0.16%), NB (-0.23%), and CONOIL (-6.69%). This selling activity exerted downward pressure on the market, resulting in the negative performance observed.
Consequently, the Year to Date (YTD) return saw a decrease, reaching 15.52%. Additionally, the market capitalization experienced a decline of 0.26%, settling at N32.24 trillion, causing investors’ wealth to decrease by N85.95 billion.
There was an uptick in market activity, with both volume and value traded experiencing increases. The volume of traded shares rose by 1.94% to reach 627.87 million units, while the value traded surged by 38.23% to reach N9.15 billion.
The market breadth improved as investor sentiment grew from 1.10x to 1.29x. This shift was driven by the upward movement of 36 stocks, the downward movement of 28 stocks, and 61 stocks closing at the same price as the previous session.
We anticipate a mixed market sentiment in the coming week.
Currency Market
The Nigerian Naira experienced a 0.66% depreciation against the US Dollar in the I&E Window, closing at N770.17/USD.
