Equities Market
In a remarkable display of bullish momentum, the Nigerian equities market continued its upward trajectory, propelling the all-share-index to reach a remarkable 15-year high. With a significant surge of 130 basis points, the benchmark settled at an impressive 60,108.86 points, surpassing Monday’s closing point of 59,335.88 points. This notable achievement solidifies the market’s strong performance and optimistic outlook.
The positive market performance was fueled by investor enthusiasm in bellwether stocks, resulting in value appreciation for 51 stocks. Notably, GTCO stood out as a top performer, achieving a substantial gain of 5.20% and becoming the second financial service company to surpass a market capitalization of N1 trillion. Furthermore, ZENITHBANK rose by 4.62%, SEPLAT exhibited a notable increase of 2.93%, while MTNN and STANBIC contributed gains of 2.77% and 2.03% respectively. This collective surge highlights investor participation and a prevailing positive sentiment towards these significant stocks.
The Year to Date (YTD) return surged to a notable 17.28%, while the market capitalization experienced a gain of 1.30%, reaching a closing value of N32.73 trillion. This positive outcome resulted in a substantial increase in investors’ wealth, with a rise of N421.19 billion.
Market activity for the day showcased mixed results as volume traded rose by 38.18% to 763.70 million units, while value traded slightly declined by 4.01% to N12.53 billion.
The market breadth experienced a substantial improvement as investor sentiment surged from 2.00x to 3.92x. This positive shift resulted from 51 stocks advancing, 13 stocks declining, and 61 stocks closing unchanged.
We anticipate bulls persist over equities in the coming session.
Currency Market
The Nigerian Naira appreciated by 0.67% against the US Dollar in the I&E Window, closing at N763.00/USD.
