…The Naira appreciated by 0.03% to close at ₦1,421.63
The Nigerian equities market rebounded by ending today’s session bullish, as the benchmark All-Share Index (ASI) advanced by 7 basis points to close at 165,512.18 points. The moderate uptick reflected renewed interest in strategic stocks as investors hunted for bargains.
The market mounted a recovery on the back of appreciations in UHOMREIT, ZICHIS, WAPCO, GTCO, NEM, CWG, ZENITHBANK, ACCESSCORP, OANDO, ELLAHLAKES, NGXGROUP and 22 other gainers.
As a result, the year-to-date return improved to 6.36%, while market capitalization appreciated by 0.07% to ₦105.96 trillion, translating to a ₦73.50 billion gain for investors.
Sectoral performance was positive, as three of the five tracked indices ended the session in the green. The Banking Index led the gainers, up by 0.31%, due to renewed buying interest in GTCO, ZENITHBANK, ACCESSCORP and JAIZBANK. Similarly, the Industrial Goods and Oil & Gas indices recorded marginal gains of 0.01% apiece, reflecting mild appreciations in BERGER, WAPCO and OANDO, respectively.On the downside, the Insurance Index recorded the steepest loss, declining by 0.42%, pressured by profittaking in GUINEAINS, AIICO, VERITASKAP and INTENEGINS. The Consumer Goods Index also closed lower, shedding 0.31%, as prices dipped in CHAMPION, HONYFLOUR, INTBREW and DANGSUGAR.
MARKET ACTIVITY: Market activity was negative, as traded volume and value depreciated by 4.76% and 10.11% to 731.67 million units and ₦19.05 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 0.85x from 0.95x as 33 stocks appreciated, 39 stocks depreciated, and 59 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bill market closed bearish at 18.49%, while the Bond market closed flat at 16.75%.
OFFICIAL WINDOW: The Naira appreciated by 0.03% to close at ₦1,421.63
