…The Naira appreciated by 0.52% to close at ₦1,446.32
The local bourse closed today’s market bullish, halting a run of six successive bearish sessions, as the benchmark All-Share Index (ASI) gained 10 basis points to 143,736.13 points, up from 143,614.61 in the previous session, driven by renewed interest in fundamentally sound and undervalued stocks.
The market’s rebound was propelled by appreciations in bellwether stocks such as FISRTHOLDCO, GTCO, PZ, ZENITHBANK, UBA, along with 21 additional gainers that collectively lifted the overall market performance.
As a result, the year-to-date return advanced to 39.68 percent, while market capitalization appreciated by 0.10 percent to ₦91.44 trillion, translating to a ₦94.47 billion gain of investors’ wealth.
Sectoral performance was mixed, with two of the five tracked indices posting moderate gains. The Banking index led the gainers, rising by 0.38% as a result of renewed interest in FIRSTHOLDCO,
GTCO, ZENITHBANK, FIDELITYBK and UBA. Also, the Consumer Goods index appreciated by 0.01%, lifted by gains in PZ. On the flip side, the Insurance index declined by 0.84%, pulled down by sell pressure in SUNUASSUR, LASACO and MANSARD. Similarly, the Oil & Gas index slipped by 0.17%, weighed down by profit-taking in
OANDO.
Meanwhile, the Industrial Goods index closed flat.
MARKET ACTIVITY: MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 1.30x from 0.65x as 26 stocks appreciated, 20 stocks depreciated, and 80 stocks closed flat.
FIXED INCOME MARKET: The Treasury Bills closed bullish at 16.88%. While the Bond market closed flat 15.36%.
OFFICIAL WINDOW: The Naira appreciated by 0.52% to close at ₦1,446.32
