…The Naira appreciated by 0.60% to close at ₦1,335.96
The local bourse closed bearish at the end of today’s trading session, halting its 11-day bullish run as the benchmark All-Share Index declined by 47 basis points to close at 189,321.24 points.
The negative performance reflects profit-taking activities from investors following the attainment of a new market-high in the previous session.
The market closed lower due to declines in ZENITHBANK, UBA, ACCESSCORP, WAPCO, MTNN, GTCO, MAYBAKER, NB, DANGSUGAR, ARADEL and 30 other laggards that dragged the overall performance down.
Consequently, the year to date return moderated to 21.69%, as market capitalization declined by 0.47% to ₦121.55 trillion, representing a ₦577.40 billion loss of investors’ wealth.
Sectoral performance was majorly negative, with four of the five tracked indices closing in the red. The Banking Index recorded the steepest loss, declining by 3.69%, pressured by ZENITHBANK, UBA, ACCESSCORP and GTCO.
The Insurance Index also edged lower by 0.57%, due to depreciations in MANSARD, REGALINS and VERITASKAP. In similar fashion, the Industrial Goods Index recorded 0.50% loss, amid profit-taking in WAPCO and BERGER. While the Oil & Gas index weakened by 0.06%, as losses in ARADEL weighed on the sectoral performance.
On the positive side, the Consumer Goods index was the sole gainer, adding 2.54% on sustained interests in VITAFOAM, BUAFOODS, CADBURY and DANGSUGAR.
MARKET ACTIVITY: Market activity was mixed as traded volume appreciated by 11.52% to 1.20 billion units. While traded value declined by 5.99% to ₦60.19 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 1.10x from 2.11x as 44 stocks appreciated, 40 stocks depreciated, and 49 stocks closed flat.
FIXED INCOME MARKET:
The average yield of the Treasury Bill market closed bullish at 17.54%, while the Bond market closed flat at 16.01%.
CURRENCY MARKET: The Naira appreciated by 0.60% to close at ₦1,335.96
