Bears held sway as the Nigerian equities market closed the day’s trading on a negative note. The NGXASI recorded a marginal downtick of 12 basis points from 101,362.38 points to 101,239.10 points.
The market’s bearish closure was majorly driven by investors’ profit-taking activities in Access Corporation (-2.55%), OANDO (-1.74%), PZ Cussons (-9.89%), Transnational Corporation of Nigeria (-2.95%), United Bank for Africa (-0.42%) and 23 other stocks.
Consequently, the year-to-date return decreased to 35.39%. Likewise, the overall market capitalization decreased by 0.12% to ₦55.39 trillion, as investors lost ₦67.45 billion.
Market activity for the day was negative as volume and value traded declined by 16.43% and 24.54% to 253.00 million units and ₦4.94 billion, respectively.
We expect the equities market to trade mixed this week.
CURRENCY MARKET:
The Nigerian Naira depreciated by 1.86% against US Dollar in the NAFEM Window, closing at a rate of ₦1,571.31.
