…The Naira depreciated by 0.45% to close at ₦1,355.37
The local bourse closed lower, as the All-Share Index declined by 91 basis points to settle at 194,484.61 points, following the MPC decision of the CBN to reduce the MPR by 50 basis points to 26.50%. The negative close reflected profit-taking in bellwether stocks, as investors cautiously repositioned portfolios despite the rate cut’s supportive outlook for equities over the medium term.
The market lost grounds due to declines in BUAFOODS, STANBIC, MTNN, NB, HONYFLOUR, JBERGER, ARADEL, alongside 33 other laggards.
Consequently, the year to date return moderated to 24.98%, as market capitalization declined by 0.91% to ₦124.83 trillion, representing a ₦1.41 trillion loss of investors’ wealth.
Sectoral performance remained positive, with three of the five indices tracked closing in positive territory while two ended lower. The Industrial Goods Index led the gainers, advancing by 1.92% on the back of strong price appreciation in DANGCEM and WAPCO.
The Banking and Oil & Gas Indices followed, rising by 1.23% and
0.15% respectively, supported by notable gains in JAIZBANK,
FCMB, ZENITHBANK, ACCESSCORP, ETI, UBA, WEMABANK,
FIRSTHOLDCO, and OANDO.
On the flip side, the Consumer Goods and Insurance Indices declined by 4.74% and 1.31%, weighed down by price losses in TANTALIZER, BUAFOODS, HONYFLOUR, NB, MBENEFIT, LASACO, GUINEAINS, UNIVINSURE and VERITASKAP.
Market activity was mixed as traded volume depreciated by 11.74% to 1.14 billion units. While traded value appreciated by 69.37% to ₦69.37 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 0.68x from 0.97x as 27 stocks appreciated, 40 stocks depreciated, and 66 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bills market closed slightly bullish at 17.04%, while the Bonds market closed bearish at 15.73%.
CURRENCY MARKET: The Naira depreciated by 0.45% to close at ₦1,355.37
