…The Naira appreciated by 0.20% to close at ₦1,453.84
The Nigerian Equities market closed bearish for the sixth consecutive session, as the benchmark All-Share Index (ASI) dipped by 8 basis points to 143,614.61 points, down from 143,722.62 in the previous session, driven by continued sell pressure across key sectors.
The market’s decline is attributed to profit-taking on heavyweight stocks such as UBA, FCMB, TRANSCORP, ZENITHBANK, FIRSTHOLDCO, along with 21 additional losers that collectively weighed on overall performance.
As a result, the year-to-date return moderated to 39.53 percent, while market capitalization dipped by 0.08 percent to ₦91.35 trillion, translating to a ₦68.69 billion loss in investors’ wealth.
Sector performance was largely negative, with three of the five tracked indices in the red. The Insurance index led the decline, shedding 0.79% on the back of sell pressure in PRESTIGE (7.48%) and WAPIC (6.18%). Similarly, the Banking and Consumer Goods indices slipped by 0.27% and 0.02%, respectively, dragged by losses in UBA (2.85%), FCMB (1.87%), ZENITHBANK (0.42%), FIRSTHOLDCO (0.16%), VITAFOAM (4.14%), CHAMPION (2.22%) and HONYFLOUR (1.10%).
Meanwhile, the Oil & Gas and Industrial Goods Indices closed flat.
MARKET ACTIVITY: Market activity was positive, with trading volume and value appreciating by 5.77% and 27.59% to 694.78 million units and ₦28.67 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 0.65x from 0.45x as 17 stocks appreciated, 26 stocks depreciated, and 84 stocks closed flat.
FIXED INCOME MARKET: The Treasury Bills and Bonds markets closed bearish at 17.02% and 15.36%, respectively.
OFFICIAL WINDOW: The Naira appreciated by 0.20% to close at ₦1,453.84
