- Naira depreciates by 0.31% to close at N1, 490.20
The Nigerian Equities market closed in the negative zone on Monday, as the NGX All-Share Index declined by 44 basis points, closing at 99,304.12 points from 99,743.05 points in the previous session.
The market’s negative performance was primarily driven by selling pressure in stocks such as FBNH (-5.44%), BETAGLAS (-8.62%), GTCO (-1.14%), UBA (-0.23%), ZENITHBANK (-0.14%) and 21 others.
Consequently, the year-to-date return settled to 32.81 percent. Also, the overall market capitalization closed at N56.16 trillion, as investors lost N248.30 billion.
Market activity for the day was positive as volume and value traded increased by 57.74 percent and 70.24 percent to 973.62 million units and N19.32 billion, respectively.
Sectoral performance was mixed, as the Banking (-1.0%), Consumer Goods (-0.4%), and Industrial Goods (-0.2%) indices recorded losses, while the Oil & Gas index closed flat. The Insurance (+1.1%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was negative (0.7x), as 26 tickers lost relative to 19 gainers. INTBREW (-10.0%) and DEAPCAP (-8.9%) topped the losers’ list, while NSLTECH (+10.0%) and VFDGROUP (+9.9%) recorded the most significant gains of the day.
Stock market experts at Futureview Research hinted that they expect the market to trade mixed amidst investors’ profit- taking actions in the subsequent trading sessions.
In the currency market, the Naira depreciated by 0.31 percent against the US Dollar in the NAFEM Window, closing at a rate of ₦1,490.20.