…The Naira appreciated by 0.34% to close at ₦1,430.85
The Nigerian equities market opened the new trading year on a bullish footing, extending its upward trajectory to an eleventh consecutive session as the benchmark NGX All-Share Index rose by 57 basis points to settle at a new all-time high of 156,492.36 points. The record close shows sustained accumulation of fundamentally attractive stocks at the start of the year.
The market climbed higher on the back of broad-based gains across key counters, with notable advances recorded in MBENEFIT, ARADEL, FUGAZ Banks, IKEJAHOTEL, NGXGROUP, DANGSUGAR, alongside 43 other gainers.
As a result, the year-to-date return improved to 52.04%, while market capitalization rose by 0.57% to ₦99.94 trillion, translating to a ₦561.55 billion increase in investor wealth.
Sectoral performance was broadly positive, with all five monitored indices closing in positively. The Insurance index led the gainers, rising by 2.07%, due to sustained buying interest in MBENEFIT, WAPIC and VERITASKAP. In tandem, the Banking index gained 2.32%, driven by FUGAZ Banks and WEMABANK, while the Oil & Gas index added 1.38% on the back of price appreciation in ARADEL,
MULTIVERSE and JAPAULGOLD. Supporting the upbeat tone, the Consumer Goods index edged higher by 0.21%, buoyed by renewed interest in HONYFLOUR, INTBREW, PZ and DANGSUGAR, while the Industrial Goods index advanced by 0.04%, reflecting modest gains in EUNISELL and CWG.
MARKET ACTIVITY: Market turnover was negative, as traded volume and value depreciated by 64.22% and 28.92% to 439.95 million units and ₦24.97 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 5.30x from 2.94x as 53 stocks appreciated, 10 stocks depreciated, and 66 stocks closed flat.
FIXED INCOME MARKET: Average yield of the Treasury Bill market closed bullish at 17.67%, while the Bond market closed bearish at 16.44%.
OFFICIAL WINDOW: The Naira appreciated by 0.34% to close at ₦1,430.85
