…The Naira closed flat at ₦1,598.69
The Nigerian stock market opened the week on a quiet note, slipping marginally by 1 basis point to close at 109,710.37 points. The slight dip reflects cautious investor sentiment after last week’s sustained bullish run
Selling pressure in FIDELITYBK, ACCESSCORP, UBA, MTNN, ZENITHBANK, and 18 other stocks contributed to the market’s negative sentiment.
Consequently, the Year-to-Date (YTD) return moderated to 6.58%, while market capitalization declined by 0.01% to ₦68.94 trillion, translating to a ₦7.89 billiondecline in investor wealth.
Sector performance leaned positive, with four sectors closing in the green while only the Banking sector ended in the red. The Consumer Goods, Insurance, Oil & Gas, and Industrial Goods sectors recorded gains, supported by strong buying interest in stocks like NNFM, DANGSUGAR, NB, INTBREW, HONYFLOUR, LASACO, CUSTODIAN, MANSARD, AIICO, OANDO, and BETAGLAS. On the other hand, the Banking sector declined, weighed down by profit-taking in ACCESSCORP, UBA, and ZENITHBANK.
MARKET ACTIVITY: Market activity traded positively as traded volume and value declined by 12.58% and 32.36% to 486.09 million units and ₦11.38 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio stood at 2.00x as 46 stocks appreciated, 23 stocks depreciated and 58 stocks closed flat.
FIXED INCOME MARKET: Average yields on both the Treasury Bills closed bullish at 20.89% while the bonds market closed flat at 18.61%.
CURRENCY MARKET: The Naira closed flat at ₦1,598.69
