…The Naira depreciated by 0.35% to close at ₦1,353.66
The local bourse maintained a positive tone today, with the benchmark NGX All Share Index (NGX ASI) inching higher by 25bps to settle at 178,625.63 points. The uptick reflects steady demand in fundamentally strong counters, as investors continued to position ahead of expected market catalysts.
The upward movement was supported by heavyweight counters, including SEPLAT, DANGSUGAR, OANDO, FIDELITYBK, UBA, GTCO, ACCESSCORP, MTNN, ZENITHBANK, alongside 37 additional advancers that collectively drove the market to a strong close.
Consequently, the year-to-date return strengthened to 14.79%, as market capitalisation rose by 0.25% to ₦114.66 trillion, representing a ₦283.24 billion increase in investors’ wealth.
Sectoral breadth was largely negative, with four of the five tracked indices ending the session in decline. The Insurance and Industrial Goods indices recorded the sharpest losses, falling 1.47% and 1.09% respectively, following price weakness in INTENEGINS, SUNUASSUR, CONHALLPLC, LASACO, UNIVINSURE, AIICO, DANGCEM and WAPCO. Similarly, the Banking and Consumer Goods indices edged lower by 0.13% and 0.04%, pressured by declines in ETI, FCMB, WEMABANK, NASCON, NB and UACN. In contrast, the Oil and Gas index stood out as the only advancing sector, rising 4.64% on the back of strong price appreciation in SEPLAT and OANDO.
MARKET ACTIVITY: Market activity was negative as traded volume and value depreciated by 25.64% and 16.44% to 698.34 million units and ₦28.44 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 1.31x from 1.58x as 46 stocks appreciated, 35 stocks depreciated, and 50 stocks closed flat.
FIXED INCOME MARKET: The average yield of both the Treasury Bill and Bond market closed bearish at 17.63% and 16.00%.
CURRENCY MARKET: The Naira depreciated by 0.35% to close at ₦1,353.66
