…The Naira depreciated by 0.05% at ₦1,437.29
The Local bourse continued on its downward trend, closing bearish for the sixth consecutive session, with the All-Share Index declining by 50 basis points to 148,781.90 points, from 149,524.81 points in the previous session, following sustained profit-taking across major stocks.
The market was pulled down by heavyweights such as UBA, PZ, NB, UNILEVER, ACCESSCORP, ZENITHBANK, GTCO, and 33 other losers.
As a result, the YTD return settled at 44.55%, as market capitalization declined by 0.50% to ₦94.53 trillion, resulting in a ₦471.99 billion loss in investors’ wealth.
Sectoral performance remained largely negative, with four of the five tracked indices posting losses. The Insurance index led the decline, down by 4.24%, following sell-offs in LINKASSURE (10%) and AIICO (9.89%). This was followed by the Consumer Goods Index (1.32%), pulled by depreciations in PZ, NB, and UNILEVER. The Banking index also fell by 0.65%, dragged by losses in UBA, ACCESSCORP and ZENITHBANK. Likewise, the Industrial Goods index dipped by 0.01%, on account of declines in CUTIX and CWG.
Meanwhile, the Oil and Gas index closed flat.
MARKET ACTIVITY: Market turnover declined, with trade volume and value falling by 30.89% and 26.20% to 364.35 million units and ₦11.35 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 0.33x from 0.48x as 13 stocks appreciated, 40 stocks depreciated, and 75 stocks closed flat.
FIXED INCOME MARKET: At the close of trading, Treasury Bills stood at 17.35%, while the Bonds market recorded a closing yield of 15.65%.
OFFICIAL WINDOW: The Naira depreciated by 0.05% at ₦1,437.29
