…The Naira appreciated by 0.05% to closed at ₦1,534.04
The market staged a recovery in today’s session, as the NGXASI advanced by 48bps to close at 141,004.14 points. Renewed buying interest across key counters lifted the benchmark index, halting the previous losing streak and signaling a return of positive momentum.
Strong buying interest in NB, ZENITHBANK, FCMB, GTCO, OANDO, and ACCESSCORP, coupled with gains from 46 other advancing stocks, provided the much-needed support that powered the market’s rebound.
Market capitalization appreciated by 0.48% to ₦89.21 trillion, adding about ₦424.96 billion to investors’ wealth. As a result, the Year-to-Date (YTD) return appreciated to 37.00%.
Sectoral performance leaned largely positive, with four indices closing in the green and only one ending in the red. The Insurance (+7.06%) and Consumer Goods (+1.08%) indices led the rally, buoyed by strong investor appetite in VERITASKAP, SOVERENINS, GUINEAINS, PRESTIGE, UNIVINSURE, WAPIC, AIICO, CONHALLPLC, INTBREW, BUAFOODS, NB, and DANGSUGAR. In line with the bullish sentiment, the Banking (+0.83%) and Oil & Gas (+0.07%) indices also edged higher, driven by gains in FCMB, ZENITHBANK, GTCO, and FIDELITYBK. Meanwhile, the Industrial Goods index emerged as the sole laggard, slipping 0.08% on account of sell-offs in WAPCO.
MARKET ACTIVITY: Trading activity was positive as total volume and value appreciated by 127.15% and 271.53% to 1.3 trillion units and ₦47.84 billion respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio appreciated to close at 3.85x up from 0.36x as 50 stocks appreciated, 13 stocks depreciated and 63 stocks closed flat.
FIXED INCOME MARKET: The Treasury bills and Bonds markets closed on a bearish note, with average yields rising to 18.30% and 16.40%, respectively.
CURRENCY MARKET: The Naira appreciated by 0.05% to closed at ₦1,534.04
