…The Naira appreciated by 1.81% to ₦1,600.44
The bearish momentum extended for a second consecutive session as the NGX All-Share Index shed 43 basis points to close at 108,261.47 points. The decline was driven by continued profit-taking in large-cap stocks, signaling cautious sentiment among investors after the recent rally
The market’s persistent bearish trend was fueled by losses in bellwether stocks including MTNN, FIDELITYBK, DANGSUGAR, ZENITHBANK, and GTCO, alongside 34 other declining equities.
As a result, the Year-to-Date (YTD) return moderated to 5.18%, while market capitalization dipped by 0.43% to ₦68.04 trillion, reflecting a ₦269.61 billion drop in investor wealth.
Sectoral performance was broadly positive, with three out of the five sectors under our coverage closing in the green. The Oil & Gas, Insurance, and Industrial Goods sectors gained 0.39%, 0.29%, and 0.12% respectively, buoyed by price increases in OANDO, CORNERST, CONHALLPLC, MANSARD, BETAGLAS, and CUTIX.
On the flip side, the Consumer Goods and Banking sectors closed negative, pressured by losses in HONYFLOUR, NB, FIDELITYBK, ZENITHBANK, and GTCO.
MARKET ACTIVITY: Market activity traded negative as traded volume and value declined by 9.72% and 4.01% to 414.57 million units and ₦10.72 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio stood at 1.50x as 39 stocks appreciated, 26 stocks depreciated and 65 stocks closed flat.
FIXED INCOME MARKET: Average yields on Treasury Bills and bonds closed flat at 20.70% and 18.64% respectively.
CURRENCY MARKET: The Naira appreciated by 1.81% to ₦1,600.44
