…The Naira appreciated by 0.04% to close at ₦1373.34
The Nigerian equities market retreated in today’s session, erasing previous gains as the All-Share Index (ASI) fell to 249,062.37 points. This downward trend was driven by broad-based sell-offs across the consumer goods, oil & gas, banking, and industrial sectors.
The decline was anchored by losses in BUACEMENT, CAP, ACCESSCORP, GTCO, NGXGROUP, FCMB, FIRSTHOLDCO, UACN and 16 other laggards.
Consequently, the year-to-date return went down to 60.05%, while market capitalization fell by 1 % to ₦ 159.6 trillion, representing a ₦1.61 Trillion loss to the market.
Sectoral performance was largely bearish, as only one of the five tracked indices closed in the green. The Insurance index advanced by 0.80% on the backs of ROYALEX, FTGINSURE, PRESTIGE, NEM, INTENEGINS, UNIVINSURE, SOVRENINS, AIICO, and MANSARD.Conversely, the Banking index retreated by 0.31% following declines in FCMB, JAIZBANK, STERLINGNG, GTCO, and ACCESSCORP. The Consumer Goods sector also dipped by 0.45% as a result of losses in INTBREW, LIVESTOCK, CHAMPION, and NB.
Similarly, the Industrial Goods and Oil & Gas indices eased by 3.84% and 0.10% respectively, driven by sell-offs in BUACEMENT, CAP, AUSTINLAZ and OANDO.
MARKET ACTIVITY: Market activity was mixed, as traded volume declined by 14.74% to 600.22 billion units, while total value appreciated by 1.76% to ₦32.71 bllion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, rose to 1.71x from 0.82x as 41 stocks appreciated, 21 stocks depreciated, and 66 stocks closed flat.
FIXED INCOME MARKET: Average yield of the Treasury Bills market close flat 16.03%, while the Bonds market closed up at 15.99%.
The Naira appreciated by 0.04% to close at ₦1373.34
