…The Naira dereciated by 0.71% to close at ₦1,353.90
The Nigerian equities market reversed the previous session’s gains, as profit-taking activities dragged the benchmark All-Share Index lower by 69 basis points to close at 201,156.85 points. The bearish close reflects investors’ decision to lock in recent gains, which outweighed pockets of buying interest across select counters and pressured overall market sentiment
The market was weighed down by profit taking in ARADEL, PRESCO, GTCO, NGXGROUP, UBA, ACCESSCORP, ZENITHBANK, NB, NAHCO and MTNN, alongside gains in 28 other laggards.
Consequently, the year to date return moderated to 29.27%, as market capitalization depreciated by 0.69% to ₦129.13 trillion, representing a ₦900.44 billion loss in investors’ funds.
Sectoral performance closed positive, with three of the five tracked indices ending in the green. The Consumer Goods Index led the gainers, advancing by 1.19%, supported by appreciations in GUINNESS, NESTLE, CADBURY, DANGSUGAR, and PZ. The Industrial Goods Index also gained 0.46%, buoyed by gains in WAPCO and BERGER, while the Insurance Index inched higher by 0.43%, driven by SOVRENINS, LINKASSURE, PRESTIGE and CUSTODIAN. On the downside, the Oil & Gas Index declined by 4.58%, pressured by sharp sell-offs in ARADEL and ETERNA. Similarly, the Banking Index shed 2.14%, dragged lower by profit-taking in GTCO, UBA, WEMABANK, ACCESSCORP, ZENITHBANK, and FIDELITYBK.
MARKET ACTIVITY: Market activity was positive today as both traded volume and value appreciated by 246.00% and 47.64% to 6.06 billion units and ₦130.06 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 0.82x from 1.12x as 31 stocks appreciated, 38 stocks depreciated, and 63 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bill and Bond markets closed slightly bullish at 17.65% and 15.60%, respectively.
CURRENCY MARKET: The Naira depreciated by 0.71% to close at ₦1,353.90
