…the Naira depreciated by 0.47% to N1,501.08
Bears extended their grip on the week’s final session as the NGXASI dipped 7bps to 108,497.40 paints, driven by cautious investor sentiment and mild sell-offs.
The market’s negative performance was primarily driven by profit-taking in key stocks such as; OANDO (-4.92%)
ACCESSCORP (-1.49%), UBA (-1.19%), ZENITHBANK 1.10%) FBNH (-0.81%) and 27 other stocks.
Consequently, the Year-to-Date (YTD) return settled at 5.41%, while market capitalization declined by 0.07% to N67.61 trillion, deducting N44.31 billion from investor wealth.
Sect oral performance was majorly negative, with three of the five covered sectors closing in the red. The Oil & Gas Index led the decline, shedding 0.58% due to profit-taking in OANDO (-4.92%), ETERNA (-4.47%), and JAPAULGOLD (-2.79%). The Banking and Insurance indices also fell by 0.55% and 0.25%, respectivelý, pressured by losses in ACCESSCORP (-1.49%), UBA (1.19%), ZENITHBANK 1.10%), and AllCO (-171%). On the upside, the Consumer Goods and Industrial Goods indices gained 0.63% and 0.10%, driven by price uptick in DANGSUGAR (+8.95%), NASCON (+1.60%), and WAPCO (+0.78%).
MARKET ACTIVITY:
Market activity was negative as volume and value traded declined by 25.05% and 0.75% to 315.72 million units and N8.36 billion, respectively.
MARKET BREADTH:
The market breadth, which measures investor sentiment through the Gainers/Losers ratio decreased to 0.78x from 1.33x as 25 stocks appreciated, 32 stocks depreciated and 65 stocks closed flat.
SYSTEM LIQUIDITY:
System liquidity decreased to .31 trillion on Friday, down from N2.70 trillion on Thursday.
FIXED INCOME MARKET:
The Treasury bils market traded flat with average yield closing at 20.23%, while the bond market traded bullish today, with average yields closing at 19.08%.
CURRENCY MARKET:
The Naira depreciated by 0.47% to close at N1,501.08.
