…Naira appreciated by 0.15% to N1,510.33
The domestic bourse remained in bearish territory’ as the NGXASI declined by 25bps to 107,670.98 points. Sustained profit-taking in select stocks continued to weigh on market performance, keeping the index in the red for a second consecutive session.
The market’s decline was largely influenced by profit-taking in key stocks, including GUINNESS (-3.90%), FBNH (-2.77%), OANDO (-172%). ZENITHBANK (-1.36%), ACCESSCORP 1.25%), and 35 other stocks.
As a result, the Year-to-Date (YTD) return settled at 4.61%, while market capitalization declined by 0.25% to N67.18 trillion, erasing 66.44 billion from investor wealth.
Sectoral performance was broadly negative, with four of the five sectors under our coverage closing in the red. The Banking Index led the decline, shedding I .02% as profit-taking in FBNH (-2.77%), ZENITHBANK (-1.36%), ACCESSCORP (-1.25%) and UBA
0.91%) weighed on performance.
The Consumer Goods, Oil & Gas, and Industrial Goods indices also recorded losses of 0.39%, 0.24%, and 0.18%, respectively, following price declines in HONYFLOUR (-5.93%), GUINNESS (-3.90%), NB (-1.38%), ETERNA 5.66%). OANDO (-172%), and WAPCO (-1.34%). On the flip side, the Insurance Index was the sole gainer, rising by 2.63% on the back of investor interest in CONHALLPLC (+9.76%), SUNUASSUR (+9.58%), CORNERST (+7.03%), and WAPIC (+5.88%).
MARKET ACTIVITY:
Market activity was negative as bath traded volume and value declined by 20.03% and 12.07% to 408.72 million units and NI 1.26 billion, respectively.
SYSTEM LIQUIDITY:
System liquidity decreased to NI .69 trillion on Tuesday, down from N2.39 trillion on Monday.
FIXED INCOME MARKET:
The Treasury bills and bond markets traded bullish today, with average yields closing at 21.93% and 19.62%, respectively.
CURRENCY MARKET:
The Naira appreciated by 0.15% to close at N 1,510.33.
