…the Naira appreciated by 0.35% to N1,509.70
The bears took charge of the market today, dragging the NGXASI down by 102bps to 108,053.95 points as profit-taking activities weighed on key stocks.
The negative performance was fueled b,’ profit-taking in major stocks such as BUAFOODS (-10%), ARADEL (-6.9%), BETAGLAS (5.7%), TRANSCORP 1.6%), UBA (-0.8%) and 23 other stocks.
Consequently, the Year-to-Date (YTD) return settled at 4.98%. Meanwhile, market capitalization declined by 1.02% to N67.42 trillion, subtracting N697.61 billion from investor wealth.
Performance across sectors was mainly negative, with three out of five sectors in our coverage closing in the red. The Consumer Goods Index led the losers, dipping 5.01%, driven by profit-taking in BUAFOODS (-10%) and NB (-2.8%). The Oil/Gas and Banking indices followed, posting losses of 2.34% and 0.73%, respectively, supported by price decline in ARADEL (-6.9%) ETERNA (-1.1%), FBNH (-1.7%), and UBA (0.8%). On the flip side, the Industrial and Insurance Indices appreciated, gaining 0.76% and 0.29% due to investor interest in DANGCEM (+1.24%), SUNU ASSURANCE (+2.23%). MANSARD (+2.7%) and CUSTODIAN (+0.76%),
MARKET ACTIVITY: Market activity was positive as traded volume and value appreciated by 12.10% and 51.22% to 478.76 million units and 3.91 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/losers ratio decreased to 1.36x from 1.40x as 38 stocks appreciated, 28 stocks depreciated and 59 stocks closed flat.
SYSTEM LIQUIDITY: System liquidity decreased to N633.74 billion on Friday, down from N871.85 billion on Thursday.
FIXED INCOME MARKET: The Treasury bills and bond markets remained largely stable today, with average yields closing at 22.06% and 19.74%, respectively.
CURRENCY MARKET: The Naira appreciated by 0.35% to close at N1,509.70.
