…The Naira appreciated by 0.11% to close at ₦1,429.31
The domestic bourse closed today’s session bullish, extending a positive run of twelve consecutive sessions as the benchmark NGX All-Share Index rose by 174 basis points to settle at a new high of 159,218.22 points. The performance was driven by heavy buying interest in fundamentally strong stocks across key indices at the start of the year.
The market climbed higher on the back of broad-based gains across key counters, with notable advances recorded in CADBURY,
NGXGROUP, ETI, ACCESSCORP, DANGSUGAR, ARADEL, GTCO,
ZENITHBANK, BUACEMENT, FIRSTHOLDCO, alongside 63 other gainers.
As a result, the year-to-date return improved to 2.32%, while market capitalization rose by 1.87% to ₦101.81 trillion, translating to a ₦1.87 trillion increase in investor wealth.
Sectoral performance was broadly positive, with all five monitored indices closing high. The Insurance index led the gainers, rising by
4.97%, due to renewed interest in WAPIC, REGALINS and MBENEFIT. In tandem, the Banking index gained 4.71%, driven by FUGAZ Banks and WEMABANK, while the Oil & Gas index added 3.75% on the back of gains in OANDO, MULTIVERSE and ARADEL. Also, the Consumer Goods index edged higher by 2.06%, buoyed by
CADBURY, CHAMPION, PZ and DANGSUGAR, while the Industrial
Goods index advanced by 0.95%, reflecting modest gains in BUACEMENT and WAPCO.
MARKET ACTIVITY: Market turnover was mixed, as traded volume appreciated by 58.12% to 695.65 million units, while traded value depreciated by
FIXED INCOME MARKET: Average yield of the Treasury Bill market closed bearish at 17.41%, while the Bond market closed bullish at 16.58%.
OFFICIAL WINDOW: The Naira appreciated by 0.11% to close at ₦1,429.31
