…The Naira appreciated by 0.89% to close at ₦1,484.14
The equities market closed on a bearish note today, as the NGXASI slipped by 8 basis points (0.08%) to settle at 141,546.80 points, underscoring mild profit-taking activities among investors.
The decline was propelled by price dip in bell weather stocks like, UBA, DANGSUGAR, NB, ZENITHBANK and 23 other laggards that dragged the market lower.
As a result, the Year-to-Date (YTD) return settled at 37.52%, while market capitalization dropped 0.08% to ₦89.56 trillion, translating to a ₦70.99 billion loss in investors’ wealth.
Sectoral performance was mainly negative, with three of the five tracked indices posting losses. The Insurance index led the decline, down 0.58%, trailed by Consumer Goods (-0.39%) and Banking (-0.30%). The slump was driven by sell-offs in major stocks including REGALINS, LINKASSURE, ROYALEX, MBENEFIT, AIICO, CORNERST, MANSARD, CHAMPION, INTBREW, DANGSUGAR, NB, UBA, FIDELITYBK, FCMB and ZENITHBANK. In contrast, the Oil and Gas index emerged as the sole gainer, inching up 0.14% on price appreciation in OANDO. While the Industrial Index closed flat.
MARKET ACTIVITY: Market activity was negative as both traded volume and value decreased by 25.25% and 46.25% to 414.98 million units and ₦12.95 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio decreased to 0.81x from 1.10x as 22 stocks appreciated, 27 stocks depreciated and 78 stocks closed flat.
FIXED INCOME MARKET: Yields in the Treasury Bills market closed bullish, decreasing to 18.30%. While the Bonds market closed flat at 16.48%.
CURRENCY MARKET: The Naira appreciated by 0.89% to close at ₦1,484.14 in the official market.
