Equities market closed bearish as profit taking continues

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The All Share Index (ASI) declined by 31 bps closing at 28,634.35 while market capitalization shed 46.06 bn to close at 14.92 trillion.

Performance across sectors was broadly bearish as 3 sectors closed on a negative note. Industrial, consumer goods and oil & gas indices declined by 2..72%, 1.30% and 0.53% respectively. Banking and insurance indices however advanced by 2.88% and 1.29%.

Market activity volume declined by 31.64% while value declined by 48.49%. A total of 569m units of shares valued at 4.9bn was traded in the market.

Other Market Snapshot

  • Bonds market traded on a bullish note with yields compressing on both short and long-dated maturities
  • Global stocks market closed on a positive note
  • Naira appreciated in the parallel market but stable in I&E and official window

Equities market closed bearish as profit taking continues

PFI Capital Research

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