Bears held sway in the domestic bourse, extending the bearish momentum as the NGX All-Share Index shed 48 basis points, closing at 98,228.50 points, up from the previous session’s 98,703.68 points.
The market’s negative performance was primarily driven by selling pressure in stocks such as Access Corporation (-1.39%), Guaranty Trust Holding Company (-5.98%), ZENITHBANK (-0.29%), NB (-2.04%), FirstBank Nigeria Holdings (-9.91%) and 23 others.
As a result, the year-to-date return settled at 31.37%. Also, the overall market capitalization experienced a 0.48% decline, reaching N55.55 trillion, as investors lost N268.75 billion.
Market activity for the day was mixed as volume traded increased by 0.93% to 425.66 million units while value traded decreased by 6.76% to N8.35 billion, respectively.
We expect the equities market to trade mixed in the coming sessions.
CURRENCY MARKET:
The Nigerian Naira depreciated by 4.60% against US Dollar in the NAFEM Window, closing at a rate of ₦1,416.57.
