WED APRIL 03 2024-theGBJournal| The Nigerian equities market extended yesterday’s losses driven by sell pressures on FBNH (-5.0%) and other tier-1 banks.
As a result, the NGX ASI declined by 0.3% to close at 104,181.32 points. Accordingly, the Month-to-Date and Year-to-Date returns printed -0.4% and +39.3%, respectively.
The total volume of trades decreased by 25.8% to 405.03 million units, valued at NGN8.91 billion, and exchanged in 10,364 deals. ACCESSCORP was the most traded stock by volume at 50.00 million units, while ZENITHBANK was the most traded stock by value at NGN1.86 billion.
On sectors, the Banking (-2.4%) and Insurance (-2.1%) indices posted losses while the Consumer Goods (+0.2%) index gained. The Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative (0.6x), as 32 tickers lost relative to 20 gainers.
INTENEGINS (-10.0%) and CAVERTON (-10.0%) recorded the highest losses of the day, while UPL (+9.8%) and SCOA (+9.7%) topped the gainers’ list.
Meanwhile, the naira extended its rebound Wednesday, climbing by 1.3% to N1,262.85/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM), further narrowing the gap at the parallel market.
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