The domestic bourse experienced a reversal last week’s bullish momentum to start the new week, as the day’s trading opened in the negative zone. The All-Share Index (NGXASI) gained shed 0.18% to close at 99,118.86 points from 99,300.38 points in the previous session.
The day’s negative performance was primarily driven by investors profit taking activities in stocks like Access Corporation (-0.29%), United Bank for Africa (-1.35%), Fidelity Bank (-0.49%), FBN Holdings (-4.69%) and 13 others.
Consequently, the year-to-date return settled at 32.56%. Similarly, the overall market capitalization decreased by 0.18% to close at N56.07 trillion as investor’s wealth declined by N102.55 billion.
Market activity for the day was negative as volume and value traded decreased by 19.45% and 38.92% to 349.59 million units and N5.24 billion, respectively.
We expect the market to trade mixed amidst investors profit-taking actions.
CURRENCY MARKET:
The Nigerian Naira appreciated by 0.66% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,476.12.
