…The Naira depreciated by 0.46% to close at ₦1,384.29
Today, the Local bourse sustained its upward trajectory, building on the strong start to the month as bullish sentiment persisted across key sectors. The All-Share Index advanced by 57 bps to close at 196,621.96 points, reflecting continued buying interest and improved market breadth.
The market closed on a positive note, supported by price appreciation in UACN, OANDO, ARADEL, DANGSUGAR, ACCESSCORP, INTBREW, WAPCO, BUAFOODS, GTCO, FCMB, NB, and ZENITHBANK, in addition to 27 other advancing stocks.
Consequently, the year to date return improved to 26.35%, as market capitalization appreciated by 0.57% to ₦126.20 trillion, representing a ₦710.98 billion gain in investors’ wealth.
Performance across sectors was broadly positive, as all five monitored indices finished in the green. The Oil and Gas Index recorded the strongest advance, climbing 4.52% on the back of notable gains in OANDO and ARADEL. The Insurance and Consumer Goods indices followed, rising by 1.55% and 0.88% respectively, supported by buying interest in SUNUASSUR, SOVRENINS, CUSTODIAN, WAPIC, UACN, CADBURY, DANGSUGAR,
INTBREW, BUAFOODS, and NB. Meanwhile, the Industrial Goods and Banking indices posted modest gains of 0.17% and 0.04% respectively, driven by price appreciation in WAPCO, ACCESSCORP, GTCO, FCMB, and ZENITHBANK.
MARKET ACTIVITY: Market activity strengthened today as traded volume and value surged by by 11.41% to 880.01million units and 26.89% to ₦44.51 billion respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 1.11x from 1.56x as 39 stocks appreciated, 35 stocks depreciated, and 56 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bill closed modestly bulllish at 17.23% while the Bonds market closed bearish at 15.45%, respectively.
CURRENCY MARKET: The Naira depreciated by 0.46% to close at ₦1,384.29
