The Nigerian equities market ended the trading week on a negative note, snapping a month-long winning streak as the NGX All Share Index (NGX ASI) declined by 0.56% to close at 145,754.91 points. This downturn was driven by profit-taking in various stocks, including Custodian (-8.48%), Honeywell Flour Mills (-6.42%), MTN (-4.17%), and Dangote Sugar (-2.14%).
Despite the market’s negative performance, sentiment remained bullish, with 41 gainers compared to 29 losers. The total traded volume increased by 11.74% to 2.22 billion units, valued at N32.42 billion.
In other markets:
- The NASD Securities Index (NSI) closed bearish, down 0.14% to 3,655.10 points.
- Global indices performed positively, with Japan’s Nikkei 225 leading the chart.
- African market prices were relatively favorable.
- The AFEX Composite Index (ACI) decreased by 0.12% to close at N51.48, while the AEI closed flat at N77.38.
- Commodity prices: Maize increased by 0.26% to N352.81, while sorghum decreased by 1.32% to N558.71. Gold fell by 0.02% to US$3,386.79, and Brent crude futures decreased by 0.66% to US$65.99.
- The average BDC rate depreciated by 0.32% to N1,550/USD, while the NAFEM rate closed at N1,533.73/USD.
Overall, the market’s performance was mixed, with some sectors showing positive trends while others experienced declines.
