…The Naira appreciated by 0.43%to close at ₦1,514.87
The bulls dominated at the close of today’s trading session in the equities market, with the NGXASI rising by 60 basis points to settle at 138,980.01 points. This uptick signals a halt in profit-taking, and renewed buying interest.
The uptrend was driven by strong buying interest in heavyweight stocks such as UBA, ZENITHBANK, GTCO, ACCESSCORP, and over 36 other gainers that propelled the market rebound.
As a result, the Year-to-Date (YTD) return rose to 35.03%, while market capitalization gained 0.60% to ₦87.94 trillion, translating to a ₦520.63 billion profit for investors.
Sectoral performance was broadly positive, with four of the five tracked indices closing in the green. The Insurance index led the gains, surging 6.73% on strong price appreciation in MANSARD, UNIVINSURE, LASACO, AIICO, CORNERST, LINKASSURE, MBENEFIT,
SOVRENINS, and SUNUASSUR. It was followed by Consumer Goods
(+1.54%) and Banking (+0.98%), driven by advances in NB, PZ, UBA, ZENITHBANK, GTCO, and ACCESSCORP. The Oil & Gas index inched up 0.03% on slight gains in OANDO and JAPAULGOLD, while the Industrial Goods index closed flat.
MARKET ACTIVITY: Market activity was mixed, with trading volume appreciating 276.79% to 1.82 billion units, while value traded slipped by 18.75% to ₦15.98 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio increased to 3.33x from 0.33x as 40 stocks appreciated, 12 stocks depreciated and 73 stocks closed flat.
FIXED INCOME MARKET: Yields in the Treasury bills and Bonds market edged lower, with averages easing slightly to 18.57% and 16.79%, respectively.
CURRENCY MARKET: The Naira appreciated by 0.43% to ₦1,514.87 in the official market.
