Bears resurfaced in the domestic bourse today, starting the trading week in the red zone as the NGX All-Share Index lost 4 basis points, closing at 100,020.83 points from 100,057.49 points in the previous session.

The market’s Negative performance was primarily driven by investors interest in stocks such as Custodian Assurance (-4.90%), Sterling Holdings (-2.32%), NASCON Allied Industries Plc (-2.32%), Fidelity Bank (-1.96%), Nigerian Breweries (-1.69%), First City Monument Bank (-1.29%), United Bank for Africa (-0.89%) Transnational Corporation Plc (-0.77%) and 21 others.

Consequently, the year-to-date return settled to 33.76%. Also, the overall market capitalization closed at N56.58 trillion, as investor’s wealth decreased to N20.07 billion.

Market activity for the day was negative as volume and value traded decreased by 46.11% and 62.44% to 274.68 million units and N3.71 billion respectfully.

We expect the market to trade mixed amidst investors profit taking actions in the subsequent trading sessions.

CURRENCY MARKET:

The Nigerian Naira depreciated by 0.25% against the US Dollar in the NAFEM Window, closing at a rate of ₦1,505.30