…The Naira depreciated by 0.05% to close at ₦1,356.11
The local bourse sustained its bearish momentum, as the All-Share Index edged lower by 6 basis points to close at 194,370.20 points, reflecting continued sell-pressure across key counters. Investor caution appeared to dominate the session, driven by concerns over overbought stocks, prompting profit-taking and repositioning of portfolios despite pockets of buying interest.
The market lost grounds due to declines in VITAFOAM, NGXGROUP, FIDSON, OANDO, CADBURY, WAPCO, FUGAZ BANKS, alongside 43 other laggards.
Consequently, the year to date return moderated to 24.91%, as market capitalization declined by 0.06% to ₦124.75 trillion, representing a ₦73.45 billion loss of investors’ wealth.
Sectoral performance was largely negative, with only the Consumer Goods Index closing in positive territory, rising by 1.19% on the back of gains in CHAMPION, BUAFOODS, DANGSUGAR and TANTALIZER. The Insurance sector led the laggards, falling 3.79%, weighed down by sharp declines in CUSTODIAN, WAPIC, UNIVINSURE, SOVRENINS, and MBENEFIT.
The Banking Index dropped 2.07%, dragged by losses in UBA, ZENITHBANK, GTCO, and ACCESSCORP, while the Oil & Gas and Industrial Goods indices edged lower by 0.24% and 0.22% respectively, with counters such as OANDO and WAPCO contributing to the sectoral downturn.
MARKET ACTIVITY: Market activity was mixed as traded volume appreciated by 20.96% to 1.38 billion units. While traded value depreciated by 13.41% to ₦46.20 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 0.41x from 0.68x as 22 stocks appreciated, 54 stocks depreciated, and 55 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bills market closed slightly bearish at 17.18%, while the Bonds market closed bullish at 15.44%.
CURRENCY MARKET: The Naira depreciated by 0.05% to close at ₦1,356.11
