…The Naira depreciated by 0.39% to N1,536.15
Bearish sentiment dominated the market today, dragging the NGX All-Share Index (NGXASI) dawn by 43 basis points to 106,167.75 points from its previous level of 106,621.91 points.
The market’s bearish sentiment was led by sell-offs in key stocks, such as, MTNN (-7.46%), FIDELITYBK (-2.57%), ACCESSCORP 1.84%), ZENITHBANK (-1.04%), OANDO (-0.46%). and 26 other stocks.
Consequently, the Year-to-Date (YTD) settled by to 3.15%, while the overall market capitalization decreased by 0.43% to N66.48 trillion, subtracting N284.40 billion from investors wealth.
Sectoral performance was mainly negative as three out of five tracked indices closed in the red, While one closed positive and one closed flat. The Consumer Goods led the laggards, driven by sell-off in NB (-2.20%). Followed by the Banking (-0.21%) and Oil/Gas (-0.03%) indices dipped due to losses in FIDELITYBK (-2.57%), ACCESSCORP 1.84%), ZENITHBANK (-1.04%) and OANDO (-0.46%). Conversely, the Insurance index advanced by 0.87% driven by price uptick in CORNERST (+6.00%), CONHALLPLC
(+4.52%), CUSTODIAN (+0.76%) and AllCO (+0.61%). While the Industrial index remained unchanged.
MARKET ACTIVITY: Market activity was negative as both traded volume and value decreased by 1 1.06% and 55.08% to 324.59 million units and N7.92 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio decreased to 0.74x from 1.19x as 23 stocks appreciated, 31 stocks depreciated and 73 stocks closed flat.
SYSTEM LIQUIDITY: System liquidity increased to N496.30 billion on Tuesday, up from #496.15 billion on Monday.
FIXED INCOME MARKET: The fixed-income market traded flat, with the average Treasury bill yield steady at 18.91% and bond yields closing unchanged at 18.39%, indicating subdued investor sentiment.
CURRENCY MARKET: The Naira depreciated by 0.39% to close at N1,536.15.
