…The Naira depreciated by 0.24% to close at ₦1,363.30
The Nigerian equities market suffered a heavy loss at the end of today’s trading session as the All-Share Index (ASI) shed 141% to close at 237,404.92 points. The negative momentum was fuelled by broadbased sell-offs led by Banking and Industrial Goods bellwethers, which weighed down on the overrall market sentiment.
The negative performance was a result of losses seen in stocks such as CADBURY, DANGSUGAR, NGXGROUP, DANGCEM, OANDO, ZENITHBANK, STANBIC, ACCESSCORP, UBA, GTCO and 53 other losers.
Consequently, the market’s year-to-date (YTD) return moderated to 52.56%, while market capitalisation declined by 1.41% to ₦152.27 trillion, wiping out ₦2.18 trillion from the bourse.
Sectoral performance was broadly negative, with all of the five tracked indices closing in the red. The Industrial Goods Index recorded the sharpest decline of 3.42%, due to losses in DANGCEM, CWG and OMATEK. The Insurance Index followed, shedding 2.83% as it was dragged lower by retreats in key industry leaders including INTENEGINS, NEM, CONHALLPLC, VERITASKAP, MBENEFIT and SUNUASSUR.
The Banking Index also closed down by 1.48%, pressured by sustained dips in FIDELITYBK, ZENITHBANK, STANBIC, ACCESSCORP, UBA, WEMABANK, FCMB and GTCO.
Meanwhile, the Consumer Goods and Oil/Gas Indices declined by 0.59% and 0.14%, respectively, weighed down by losses in CADBURY, MCNICHOLS, DANGSUGAR, NB, CHAMPION, INTBREW, JAPAULGOLD and OANDO.
MARKET ACTIVITY: Market activity was positive, with traded volume rising 4.33% to 691.64 million units, while total value rose 192.28% to ₦116.85 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 0.33x from 0.25x as 13 stocks appreciated, 40 stocks depreciated, and 77 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bill closed bullish at 17.95%, while the Bonds market closed bullsih at 16.76%
The Naira declined by 0.24% to close at ₦1,363.30
