…The Naira depreciated by 0.41% to close at ₦1361.40
The Nigerian equities market rebounded strongly from the previous session’s decline, as the benchmark NGX ASI advanced by 210bps to close at 244,775.83 points. The positive close was driven by renewed buying interest in bellwether stocks, particularly across the Industrial Goods and Banking sectors, as investors repositioned to strengthen portfolio holdings
The positive performance was buoyed by gains in DANGCEM, BUACEMENT, WAPCO, FIRSTHOLDCO, ETI, GTCO, CADBURY, NB, OANDO, ACCESSCORP, ZENITHBANK and 34 other advancing stocks.
As a result, the year-to-date return improved to 57.30%, while market capitalization appreciated by 2.10% to ₦157.09 trillion, leading to a ₦3.24 trillion addition to the local bourse.
Sectoral performance skewed largely positive as the Industrial Goods index surged 7.26%, driven by strong price appreciation in DANGCEM, BUACEMENT and WAPCO. The Banking index also advanced 3.35% on renewed buying interest in FIRSTHOLDCO, ETI, GTCO, FCMB, ACCESSCORP, ZENITHBANK, and FIDELITYBK. Meanwhile, the Consumer Goods and Oil/Gas indices gained 0.21% and 0.14% respectively, supported by rallies in CADBURY, NB and OANDO, despite mild declines in UACN, PZ and ETERNA. Conversely, the Insurance index dipped 0.37% as losses in DEAPCAP, WAPIC, VERITASKAP and ROYALEX outweighed gains recorded in SOVRENINS, PRESTIGE and AIICO.
MARKET ACTIVITY: Market activity was negative, with traded volume declining 41.73% to 1.07 billion units, while total value depreciated 23.74% to ₦55.04 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 1.45x from 1.40x, as 45 stocks appreciated, 31 depreciated, and 57 closed flat.
FIXED INCOME MARKET: Average yield of the Treasury Bills market appreciated to close at 17.60%, while the Bonds market closed flat at 15.77%.
CURRENCY MARKET: The Naira depreciated by 0.41% to close at ₦1361.40
