…The Naira depreciated by 0.11% to close at ₦1362.05
The local bourse extended its positive momentum for a third consecutive session, with the NGX All-Share Index (ASI) advancing 0.06% to settle at 244,852.21 points. This subtle upward crawl reflects a delicate tug-of-war in the market, where persistent investor interest is being narrowly absorbed by profit-taking.
Market performance was buoyed by gains in VITAFOAM, NAHCO, OANDO, DANGSUGAR, MTNN, UACN, STANBIC, and 23 other gainers.
Consequently, the market’s year-to-date (YTD) return advanced to 57.35%, while market capitalization appreciated by 0.06% to close at ₦157.04 trillion. This upward movement translates to a ₦99.15 billion gain for investors.
The market closed on a positive note, with three sectors advancing and two declining. The Consumer Goods Index emerged as the day’s top performer, climbing 0.42% on the back of strong investor demand for heavyweights including UACN, INTBREW, and DANGSUGAR. The Oil & Gas Index also posted a positive session, advancing 0.14% as the sector’s gains were firmly anchored by OANDO. Close behind, the Insurance Index edged higher with a 0.03% increase, driven by positive momentum in LINKASSURE, AIICO, REGALINS, and CONHALLPLC.
Conversely, the Banking Index suffered the most notable hit, sliding 0.79% into negative territory as profit-taking dragged down major tickers like FIRSTHOLDCO, ZENITHBANK, FCMB, and UBA. Meanwhile, the Industrial Goods Index closed the trading session slightly lower, dropping 0.09% due to downward momentum in CWG, CUTIX and WAPCO.
MARKET ACTIVITY: Market activity was bearish, as traded volume contracted by 3.47% to 1.23 billion units, while total value dipped significantly by 32.89% to settle at ₦38.84 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, moved down further to 0.86x from 1.04x as 30 stocks appreciated, 35 stocks depreciated, and 65 stocks closed flat.
FIXED INCOME MARKET: The average yields for Treasury bills and bonds edged higher to settle at 17.81% and 16.38%, respectively.
The Naira declined by 0.11% to close at ₦1362.05
