…The Naira appreciated by 0.05% to close at ₦1,400.48
The local bourse weakened at the end of today’s trading session, as the benchmark NGX All-Share Index (ASI) shed 33 basis points to close at 165,164.38 points. The negative performance reflected profit-taking activities as the market reversed earlier gains in bellwether stocks.
The bearish close was fuelled by declines in MAYBAKER, IKEJAHOTEL, NEM, FIDELITYBK, FIRSTHOLDCO, MTNN, OANDO, UBA and 30 other losers that pulled the market down.
As a result, the year-to-date return moderated to 6.14%, while market capitalization depreciated by 0.33% to ₦105.74 trillion, translating to a ₦351.75 billion loss in investors’ wealth.
Sectoral performance was broadly negative, with four of the five tracked indices closing in the red. The Insurance index led the losers, shedding 1.32% on price declines in INTENEGINS, NEM, SOVRENINS REGALINS and CORNERST. It was followed by Consumer Goods (-0.49%) and Banking (-0.44%) indices, weighed
down by profit-taking in HONYFLOUR, INTBREW, CHAMPION, FIDELITYBK, JAIZBANK, FIRSTHOLDCO, and UBA, respectively. The Oil & Gas index also declined by 0.04% due to sell pressure in JAPAULGOLD and OANDO.
Meanwhile, the Industrial Goods index closed flat.
MARKET ACTIVITY: Market activity remained mixed as traded volume appreciated by 29.00% to 623.18 million units. Meanwhile, traded value depreciated by 4.82% to ₦16.54 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 0.84x from 1.27x as 32 stocks appreciated, 38 stocks depreciated, and 60 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bill and Bond markets closed bearish at 18.41% and 16.71%.
OFFICIAL WINDOW: The Naira appreciated by 0.05% to close at ₦1,400.48
