…The Naira depreciated by 0.16% to close at ₦1,420.28
The Nigerian equities market closed lower to open the trading week bearish. The benchmark NGX All-Share Index declined by 1
basis point to close at 166,112.50. The negative performance reflects mild profit-taking and cautious trading by investors
following uncertainties in the global market space.
The market closed down as investors booked profits in IKEJAHOTEL, NB, ETRANZACT, AIICO, JAIZBANK, FIRSTHOLDCO, GTCO, FIDSON, and 16 other laggards.
As a result, the year-to-date return moderated to 6.75%, while market capitalization declined by 0.01% to ₦106.34 trillion, translating to a ₦10.90 billion loss in investors’ wealth.
Sectoral performance was mixed, as two of the five tracked indices closed higher, two closed lower and one closed flat. The
Banking Index led the gainers, up 0.28%, due to sustained interest in ETI, ZENITHBANK, ACCESSCORP, FCMB, FIDELITYBK and WEMABANK.
In tandem, the Oil & Gas index gained 0.06%, driven by JAPAULGOLD and OANDO. On the flip side, the Consumer Goods
index shed 0.47%, due to declines in UNIONDICON, NB and INTBREW. Also, the Insurance index lost 0.06%, weighed down by
losses in GUINEAINS, SUNUASSUR, VERITASKAP, CONHALLPLC and ROYALEX. Meanwhile, the Industrial Goods index closed flat.
Market Activity: Market activity was also mixed, as traded volume appreciated by 16.62% to 629.60 million units. While traded value deppreciated by 11.74% to ₦14.75 billion.
Market Breadth: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 1.83x from 1.65x as 44 stocks appreciated, 24 stocks depreciated, and 62 stocks closed flat.
Fixed Income Market: The average yield of the Treasury Bill and Bond markets closed bearish at 18.28% and 16.74%, respectively.
Official Window: The Naira depreciated by 0.16% to close at ₦1,420.28
