…Naira Depreciates by 0.35% to ₦1,511.63
The local bourse maintained its positive momentum, with the NGX All Share Index advancing 1.17% to close at 107,822.52 points, marking a new milestone. The uptick was driven by sustained investor interest in key stocks, reinforcing bullish market sentiment.
The positive performance was fueled by buying interest in major stocks such as ETERNA (+9.93%), PRESCO (+4.53%), Dangote Cement (+3.88%), WAPCO (+2.40%), UBA (+1.29%) and 46 other stocks.
Consequently, the Year-to-Date (YTD) return rose to 7.19%. Similarly, the market capitalization rose by 1.17% to N67.27 trillion, adding N778.55 billion to investor wealth.
Performance across sector was broadly positive, with four out of five sectors in our coverage closing in the green. The Industrial Goods Index led the gainers, advancing 2.1 1%, driven by interest in DANGCEM (+3.88%) and WAPCO (+2.40%). The Consumer Goods and Banking indices followed, pasting gains of 1.44% and 0.49%, respectively, supported by price appreciation in Honeywell Flour (+9.99%), Unilever (+5.82%), United Bank for Africa (+1.29%), and FBN Holdings (+0.92%).
Similarly, the Oil & Gas Index edged up 0.20%, reflecting positive sentiment in ETERNA (+9.93%) and OANDO (+0.86%). On the flip side, the Insurance Index was the sole decliner, shedding 0.04% due to sell-offs in LASACO (-7.25%) and AllCO (-2.25%).
MARKET ACTIVITY:
Market activity was negative as traded volume and value declined by 3.44% and 13% to 462.14 million units and N10.23 billion, respectively.
MARKET BREADTH:
The market breadth, which measures investor sentiment through the Gainers/Losers ratio increased to 3.19x from 1.60x as 51 stocks appreciated, 16 stocks depreciated and 61 stocks closed flat.
SYSTEM LIQUIDITY:
System liquidity increased to N950.05 billion on Wednesday, up from N873.63 billion on Tuesday.
FIXED INCOME MARKET:
The Treasury’ bills market traded on a positive with the average yield settling at 22.09%. However, the bond market traded relatively flat, closing at an average yield of 19.78%.
CURRENCY MARKET
The naira depreciated by 0.35% to close at N1,511.63 to a dollar.
