…Naira appreciated by 0.07% to N1,499.10
The domestic bourse began the new month on a bearish note, as persistent profit-taking in key stocks pressured the NGX All-Share Index (NGX ASI) down to 107,455.13 points, representing a decline of 34bps from 107,821.39 points recorded in the previous
The bearish performance was driven by declines in key stocks. notably UCAP (-9.91%), NASCON (-9.29%), FIDELITYBK (-3.37%) ACCESSCORP (-2.54%), UBA (-2.17%), ZENITHBANK (-0.72%) along with 14 other laggards, exerting downward pressure on the market.
As a result, the Year-to-Date (YTD) return settled at 4.40%, while the overall market capitalization appreciated by 0.14% to N67.29 trillion.
Sectoral performance was predominantly negative, as four of the five tracked indices declined. The Banking (-1.20%) and Consumer Goods (-103%) indices led the downturn, driven by sell-offs in FBNH (-3.24%), ACCESSCORP (-2.54%), NASCON
9.29%) and HONYFLOUR (-5.11%). Similarly, the Insurance (0.57%) and Industrial Goods (-0.02%) indices weakened due to losses in CONHALLPLC (-5.13%), VERITASKAP (-3.33%), and CUTIX (-9.84%). In contrast, the Oil and gas index gained 0.42%, supported by buying interest in OANDO (+2.84%) and ARADEL (+0.40%).
MARKET ACTIVITY: Market activity was negative as volume and value traded decreased by 32.77% and 7.23% to 308.09 million units and N7.23 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio decreased to 0.61 x from 0.76x as 20 stocks appreciated, 33 stocks depreciated and 76 stocks closed flat.
SYSTEM LIQUIDITY: System liquidity increased to N595.44 billion on Monday, up from N572.77 billion on Friday.
FIXED INCOME MARKET: The Treasury bills market traded relatively flat with average yield closing at 19.85%. Likewise, the bond market traded flat with yields closing at 18.36%.
CURRENCY MARKET: The Naira appreciated by 0.07% to close at N1,499.10.
