…The Naira appreciated by 0.74% to ₦1,518.89
The local bourse All-Share Index kicked off the new trading week on a bullish note, extending last week’s strong momentum. The market gained another 43 basis points to close at 126,689.54 points, further solidifying investor confidence in the market and extending the positive trend observed in previous sessions.
Leading today’s market surge were prominent large-cap stocks: UBA, ZENITHBANK, FIRSTHOLDCO, OANDO, and ACCESSCORP. Their strong performance, coupled with gains from 40 additional equities, drove the overall market upward.
Investor wealth saw a significant ₦340.58 billion increase as market capitalization grew by 0.43% to ₦80.14 trillion. The Year-to-Date (YTD) return now stands at 23.09%.
The market saw a mostly positive day across sectors, with three out of five posting gains. The Industrial (+2.27%), Banking (+1.88%), and Oil/Gas (+0.03%) sectors led the advance, driven by strong investor interest in BUACEMENT, DANGCEM, UBA, ZENITHBANK, FIRSTHOLDCO, ACCESSCORP, and OANDO. Conversely, the Consumer Goods (-1.73%) and Insurance (-0.42%) sectors dipped, due to price drops in INTBREW, HONYFLOUR, DANGSUGAR, GUINEAINS, UNIVINSUR, and CORNERST.
MARKET ACTIVITY: Trading activity was mixed as traded volume decreased, dipping 7.39% to 1.29 billion units while the traded volume increased by 5.41% to ₦32.20 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio decreased to 1.25x from 2.48x as 45 stocks appreciated, 36 stocks depreciated and 48 stocks closed flat.
FIXED INCOME MARKET: The Treasury Bills market closed bullish today, with yields at 17.96% while the Bonds market closed slightly bearish at 16.69%
CURRENCY MARKET: The Naira appreciated by 0.74% to ₦1,518.89
