…The Naira depreciated by 0.28% to ₦1,530.26
The Nigerian Exchange All-Share Index continued its impressive run, closing the week on a strong bullish note today, building on yesterday’s 201 basis point gain, the ASI added another 137 basis points to close at 126,149.59 points. This extends the positive momentum observed throughout the week. further solidifying investor confidence in the market.
UBA, ZENITHBANK, ACCESSCORP, FCMB, GTCO, and FIDELITYBK, all prominent large-cap stocks, took the lead in today’s market surge, contributing to gains alongside 56 additional equities.
Investor wealth saw a significant ₦1.08 trillion increase as market capitalization grew by 1.37% to ₦79.80 trillion. The Year-to-Date (YTD) return now stands at 22.56%.
The market’s sectorial performance exhibited a largely positive bias, with gains observed in three out of five sectors. The Banking (+5.61%), Insurance (+3.78%), and Industrial (+1.69%) sectors were at the forefront of this advance, primarily propelled by significant investor interest in FUGAZ banks, FIDELITYBK, FCMB, CONHALLPLC, AIICO, UNIVINSURE, BERGER, and WAPCO. Meanwhile, the Oil/Gas (-0.49%) and Consumer Goods (-0.23%) sectors registered declines, stemming from price depreciation in OANDO, ARADEL, NB, DANGSUGAR, and INTBREW.
MARKET ACTIVITY: Both traded volume and value saw significant increases in today’s market activity, climbing 8.53% to 1.39 billion units and 10.19% to ₦30.55 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio decreased to 2.48x from 7.00x as 62 stocks appreciated, 25 stocks depreciated and 41 stocks closed flat.
FIXED INCOME MARKET: The Treasury Bills market closed bullish today, with yields at 18.02% while the Bonds market closed unchanged at 16.67%
CURRENCY MARKET: The Naira depreciated by 0.28% to ₦1,530.26
