…The Naira depreciated by 0.13% to close at ₦1,355.42
The Nigerian equities market recorded its strongest single-day gain this year, extending its bullish momentum as the benchmark AllShare Index advanced by 206 basis points to close at 182,313.08 points. The rally was driven by increased buying interest in fundamentally sound counters, as investors continued to position on undervalued catalysts.
The upward movement was supported by appreciations in NESTLE, OKOMUOIL, DANGSUGAR, MTNN, UNILEVER, PRESCO, SEPLAT, WAPCO, ARADEL, FUGAZ BANKS, alongside 39 additional advancers that collectively drove the market to a stronger close.
Consequently, the year to date return strengthened to 17.16%, as market capitalization rose by 2.06% to ₦117.03 trillion, representing a ₦2.37 trillion increase in investors’ wealth.
Sectoral performance was broadly positive, with all of the five tracked indices closing in the green. The Banking index led the
gainers, up 2.49%, due to increased interest in FIDELITYBK, STERLINGNG, JAIZBANK, WEMABANK and FUGAZ BANKS. In tandem, the Oil & Gas index gained 2.05%, driven by sustained interest in JAPAULGOLD, SEPLAT, ETERNA and ARADEL, while the Consumer Goods index added 0.78% on the back of appreciations in MCNICHOLS, NESTLE, DANGSUGAR, VITAFOAM, UNILEVER and NASCON. Also, the Insurance and Industrial Goods indices edged higher by 0.64% and 0.44%, buoyed by gains in CORNERST, FTGINSURE, CONHALLPLC, INTENEGINS and WAPCO, respectively.
MARKET ACTIVITY: Market activity was positive as traded volume and value appreciated by 34.09% and 85.39% to 936.39 million units and ₦52.72 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 1.61x from 1.31x as 53 stocks appreciated, 33 stocks depreciated, and 46 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bill market closed bullish at 17.62%, while the Bond market closed flat at 16.00%.
CURRENCY MARKET: The Naira depreciated by 0.13% to close at ₦1,355.42
