NIBOR Rises As Nigerian Stock Exchange Records 1.49% Decline


A significant market-wide sell-off led to the All Share Index (ASI) taking a hit by 1.49%, closing at 103,110.15 points due to dwindling market sentiment. This resulted in a year-to-date gain of 30.9%, with market capitalization growing by N17.97 billion to N36.88 trillion.

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As a consequence, listed equities’ market capitalization declined by 1.49%, amounting to N56.43 trillion, causing a loss of N856.17 billion for investors. Notably, the Banking and Consumer Goods sectors saw a surge in bullish sentiment.

However, multiple stocks faced depreciations fueled by strong sell interest, resulting in more losers (61) than gainers (7) on the exchange.

Gainers included UPDC, GEREGU, WEMABANK, ELLAHLAKES, UPDCREIT, ETI, and REDSTAREX, with mild gains. Conversely, sectors like Insurance, Oil & Gas, and Industrial Goods experienced losses of 1.80%, 0.07%, and 8.23%, respectively.

The market’s trading activity exhibited a negative trend, with notable decreases in total deals, traded volume, and value. Total deals decreased by 8.23% to 14,579, and trading volume dropped significantly by 5.94%, reaching 648.95 million units, resulting in a value decline of 57.26% to N11.09 billion compared to the previous session.

JAPAULGOLD emerged as the most traded security in terms of volume with 59.80 million units across 498 trades, while UBA led in traded value at N1.23 billion.

This report, produced by the Research Desk at Cowry Asset Management Limited, aims to guide clients making investment decisions, providing information for their independent analysis. The opinion expressed here is for information purposes only and does not constitute an offer or solicitation to enter into any trading transaction. While care has been taken in preparing this document, no responsibility or liability is accepted for errors, omissions, or any direct or consequential loss arising from the use of this report or its contents.

Editorial Staff
Editorial Staff
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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