…The Naira appreciated by 0.02% to N 1,525.82
The Domestic Exchange’s All-Share Index continued its upward trajectory today, extending yesterday’s gains. The index rose by another 53 basis points, closing at 120,977.20 points, reinforcing the prevailing bullish sentiment in the market.
The positive sentiment was predominantly fueled by investor interest in bellwether stocks, including OANDO, DANGSUGAR, GTCO, I-IBA, ZENITHBANK, and NB. Furthermore, 47 other equities also recorded advances. The Year-to-Date (YTD) return concluded at 17.54%.
Simultaneously, market capitalization expanded by 0.53% to N76.58 trillion, yet this growth was accompanied by a N403.43 billion decrease in investor wealth.
Sectoral performance was uniformly positive, with all five sectors in our analysis recording gains. The Insurance and Banking sectors emerged as frontrunners, driven by strong investor demand for heavyweight stocks including REGALINS, MANSARD, CORNERST, AllCO, LASACO, GTCO, I-IBA, and ZENITHBANK, contributing to the overall market’s ascent, the Oil/Gas, Consumer Goods, and Industrial sectors also advanced, with notable contributions from OANDO, CADBURY, DANGSUGAR, NASCON, WAPCO, and CUTIX.
MARKET ACTIVITY: Despite an 1 1 .05% decline in trading volume to 933.40 million units, market activity showed a significant increase in value, which appreciated by a substantial 140.73% to N29.31 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio decreased to 3.60x from 4.07x as 54 stocks appreciated, 15 stocks depreciated and 59 stocks closed flat.
FIXED INCOME MARKET: The Treasury Bills and Bonds market exhibited bullish sentiment, with yields at 17.62% and 1 9.76% respectively.
CURRENCY MARKET: The Naira appreciated by 0.02% to N1,525.82
