The Equities market extended its impressive rally today, with the All Share Index climbing another 102 basis points to close at a new high of 130,283.86 points. This marks a continuation of the robust bullish sentiment witnessed earlier in the week, reinforcing sustained investor confidence.
Heavy hitters like BUACEMENT, DANGCEM, FIRSTHOLDCO, ACCESSCORP, NASCON, CADBURY, and NB led today’s market Surge, supported by gains from 23 other equities.
Investor wealth saw a significant N833 million increase as market capitalization grew by 1.02% to N82.42 trillion. The Year-to-Date (YTD) return now stands at 26.58%.
The market’s sectorial performance was a mixed bag, leaning towards the red as three out of five sectors declined. Profit-taking notably impacted the Banking (-2.34%), Insurance (-0.89%), and Oil/Gas (-0.61%) sectors, particularly affecting I-IBA, GTCO, FIDELITYBK, ZENITHBANK, CONHALLPLC, UNIVINSURE, AllCO, LASACO, OANDO, and ARADEL.
Conversely, the Industrial Goods (+9.08%) and Consumer Goods (+0.54%) sectors posted gains, driven by robust investor interest in BUACEMENT, DANGCEM, WAPCO, NASCON, CADBURY, NB, DANGSUGAR, and INTBREW.
MARKET ACTIVITY: Today, trading activity experienced a substantial decrease, with both volume and value declining significantly. Volume dipped by 89.78% to 1.19 trillion units, while traded value fell by 88.23% to N42.76 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio decreased to 0.65x from as 30 stocks appreciated, 46 stocks depreciated and 53 stocks closed flat.
FIXED INCOME MARKET: The Treasury Bills market closed bearish today, with yields at 18.04% while the Bonds market closed bullish at 1 6.40%
CURRENCY MARKET: The Naira depreciated by 0.19% to N1,533.11
