Daily Market Report 29th April 2024 | InfoWARE Finance
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Daily Market Report 29th April 2024
(Source: Arthur Stevens Asset Management , Date: 29-Apr-2024)
MARKET REVIEW
The Nigerian equity market experienced a downturn in today's trading session, characterized by a 0.28% decline in the All-Share Index, which now stands at a year-to-date return of 30.90%. The bearish sentiment was fueled by intense selling pressure, leading to a contraction in market capitalization to ₦55.36trillion. The market breadth, a gauge of investor sentiment, narrowed to 1.60x, indicating a decrease in market participation compared to the previous day's reading of 1.00x.
GAINERS & LOSERS, VOLUME&VALUE DRIVERS, COMMODITIES RATES
The market recorded 24 advancers, led by STERLINGNG,FBNH, and HONYFLOUR, which gained 9.95%, 9.83% and 9.40%respectively. Conversely, 15 decliners were led by DANGSUGAR, NSLTECH, and CAP, which fell by 10.00%, 10.00%, and9.88%, respectively.
The top volume and value drivers of the day's trading activity were UBA, ZENITHBANK, and TIP, among others. The total trading volume for the day stood at 277.24 million shares, slightly lower than the previous day's volume of 265.07million shares, valued at ₦5.08 billion, executed in 8,714 deals. At the close of today's trading session, 126 stocks were traded.
As of the time of this report, energy prices were as follows, Brent Crude was trading at $88.87/barrel, WTI at $$83.30/barrel, OPECBASKET was trading at $88.39/barrel while Gold was trading at $2,336.73/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 105.85 index points, indicating a strengthening of the US dollar
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