…The Naira appreciated by 1.25% to close at ₦1,401.
The domestic market rallied to close bullish at the end of today’s trading session, as the benchmark All-Share Index (ASI) advanced by 12 basis points to close at 165,713.82 points. The positive performance indicated renewed interest in undervalued blue-chip stocks.
The rally was fuelled by appreciations in ZICHIS, FIDELITYBK, CWG, JAPAULGOLD, CADBURY, ACCESSCORP, TRANSCORP, ETERNA, UBA, WAPCO, NGXGROUP and 22 other gainers that lifted the market.
As a result, the year-to-date return improved to 6.49%, while market capitalization appreciated by 0.12% to ₦106.09 trillion, translating to a ₦125.65 billion gain for investors.
Sectoral performance was broadly positive, with four of the five tracked indices closing in the green. The Insurance index led the gainers, surging 1.23% on strong price appreciation in GUINEAINS, SOVRENINS, REGALINS and AIICO. It was followed by Consumer Goods (+0.46%) and Industrial Goods (+0.09%) indices, driven by advances in INTBREW, CADBURY, CWG and WAPCO. The Oil & Gas index inched up 0.02% on moderate gains in JAPAULGOLD and ETERNA.
On the downside, the Banking Index was the sole laggard, shedding 0.11% amid profit-taking in FIRSTHOLDCO, FCMB, WEMABANK and ZENITHBANK.
MARKET ACTIVITY: Market activity was mixed as traded volume depreciated by 19.70% to 483.09 million units. Meanwhile, traded value appreciated by 0.43% to ₦17.38 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 1.27x from 0.97x as 33 stocks appreciated, 26 stocks depreciated, and 71 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bill market closed bearish at 18.45%, while the Bond market closed flat at 16.73%.
OFFICIAL WINDOW: The Naira appreciated by 1.25% to close at ₦1,401.22
