…The Naira depreciated by 0.09% to close at ₦1,420.69
The Nigerian equities market gained a marginal uptick for the second consecutive session, as the benchmark NGX All-Share Index advanced by 1 basis point to close at 166,267.60. The sustained market performance improved on investors interest in fundamentaly sound blue-chip stocks amidst global market uncertainties.
The market gained grounds on the back of appreciaitons in MAYBAKER, CWG, IKEJAHOTEL, ZICHIS, JBERGER, FIDSON, VITAFOAM, STANBIC, WAPCO, DANGSUGAR, ACCESSCORP and 43 other gainers.
As a result, the year-to-date return improved to 6.85%, while market capitalization adv anced by 0.01% to ₦106.44 trillion, translating to a ₦6.88 billion gain of inv estors’ wealth.
Sectoral performance was negative, as three of the five tracked indices closed low, while two closed high. The Industrial Goods Index led the gainers, up by 0.09%, as a result of renewed interest in JBERGER, CAVERTON and WAPCO. In tandem, the Consumer Goods index gained 0.03% driven by appreciatons in HONYFLOUR, UNIONDICON, VITAFOAM, PZ and DANGSUGAR.
On the flip side, Insurance Index declined by 1.01%, due to profit- taking in WAPIC, MANSARD, PRESTIGE and UNIVINSURE. Also, the Oil & Gas and Banking indices lost 0.94% and 0.27%, respectively, weighed down by declines in OANDO, JAPAULGOLD, ARADEL, ETI, UBA, WEMABANK and GTCO respectively.
MARKET ACTIVITY: Market activity was positive, as traded volume and value appreciated by 3.43% and 24.81% to 822.74 million units and ₦24.93 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 2.25x from 1.56x as 54 stocks appreciated, 24 stocks depreciated, and 52 stocks closed flat.
FIXED INCOME MARKET:
The average yield of the Treasury Bill market closed flat at 18.33%, while the Bond market closed slightly bullish at 16.75%.
OFFICIAL WINDOW: The Naira depreciated by 0.09% to close at ₦1,420.69
