Daily Market Report 16th April 2024. | InfoWARE Finance
Daily Market Report 16th April 2024.
(Source: Arthur Stevens Asset Management , Date: 16-Apr-2024)
MARKET REVIEW
The Nigerian Equity Market dipped in red in today's trading session. This led to a 1.93% decline in the All-Share Index contributing to a year-to-date return of 33.48%. The bearish outings were a result of sell-offs which reduced the market capitalization to settle at #56.45trn. Market Breadth which is the measure of investors' sentiment was 0.13x compared to the previous day market breadth of 0.36x.
GAINERS & LOSERS, VOLUME&VALUE DRIVERS, COMMODITIES RATES
The total number of gainers were 6, chiefly led by stocks of MORISON, THOMASWY and UNIVINSURE with 9.96%, 8.63%, and 5.56% gains each. Whereas, the number of losers stood at 45 led by CORNERST, ELLAHLAKES and FIDELITYBK with -10.00%, - 10.00%, and -10.00% loss independently. The Volume and Value drivers of the day's market trend were led by stocks of ACCESSCORP, GTCO and ZENITHBANK etc.
Transaction Volume for the day recorded 403.89 million, compared to the previous day volume of 326.64 million trades valued at ₦8.38billion from the 10,170 deals executed. The number of stocks engaged at the end of today's trading session closed at 124.
At the time of writing this report, Brent Crude was trading at $89.75/barrel, WTI at $85.16/barrel, OPECBASKET was trading at $89.57/barrel while Gold was trading at $2,373.43/ounce on the international Commodities Market. The U.S Dollar Index which is a measure of the value of the U.S. dollar relative to a basket of foreign currencies closed at 106.17 index points
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