Bears continued the losing streak in the local bourse as the NGX All-Share Index lost 31 basis point, closing at 97,830.65 points from 98,132.15 points in the previous session.
The market’s negative performance was primarily driven by profit taking in stocks such as United Bank for Africa (-5.26%), Guinness Nigeria (-4.72%), Nigerian Breweries (-4.76%), FBN Holdings (-2.20%), Dangote Sugar (-0.93%) Transnational Corporation of Nigeria (-0.85%), Access Corporation (-0.81%), Guaranty Trust Holding Company (-0.11%) and 11 others.
Consequently, the year-to-date return settled to 30.84%. Also, the overall market capitalization closed at N55.55 trillion, as investor’s wealth decreased by N171.18 billion.
Market activity for the day wasmixed as volume traded increased by 5.34% to 399.39 billion units while the value traded decreased by 8.11% to N8.00 billion respectively.
We expect the equities market to trade positive in the coming session.
CURRENCY MARKET:
The Nigerian Naira appreciated by 0.04% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,612.12
