Bears emerged in the domestic bourse as the market opened the week’s trading in the red region today. The NGX All-Share Index shed 4 basis points by the close of the day, reaching 104,518.14 points compared to the previous session’s 104,562.06 points.
The market’s negative performance was driven by investors’ profit taking activities in major stocks such as FirstBank Nigeria Holdings H (-2.11%) Stanbic IBTC (-1.79%), NB (-0.85%), Transnational Corporation (-1.41%) and 13 additional stocks.As a result, the year-to-date return decreased to 39.78%.
Consequently, the overall market capitalization experienced a 0.04% decline, reaching N59.09 trillion, as investors lost N24.83 billion.Market activity for the day was negative as volume and value traded declined by 12.45% and 13.81% to 545.49 million units and N14.61 billion, respectively.We expect the equities market to trade mixed this week.
CURRENCY MARKET:
The Nigerian Naira appreciated by 2.35% against US Dollar in the NAFEM Window, closing at a rate of ₦1,278.58.
