…Naira appreciated by 0.05% to N1,509.53
The bulls regained control of the domestic bourse as the NGXASI gained 87bps to 108,609.51 points. Renewed investor interest in select stocks drove the market’s rebound, reversing previous losses and pushing the index back into positive territory.
The market’s positive performance was primarily driven by investor interest in key stocks such as; BUAFOODS (+9.91%). HONYFLOUR (+5.51%), NASCON (+1.43%), UCAP (+1.33%), and 21 other stocks.
As a result, the Year-to-Date (YTD) return rose to 5.52%, while market capitalization appreciated by 0.87% to N67.68 trillion, adding N504.74 billion to investor wealth.
Sectoral performance was mainly positive, with three of the five sectors under our coverage closing in the green. The Consumer Goods Index led the gainers, rising by 4.16%, driven by interest in BUAFOODS (+9.91%), HONYFLOUR (+5.51%) and NASCON (+1.43%). The Insurance and Oil & Gas indices also posted gains of 0.29% and 0.03%, respectively, supported by price uptick in SUNUASSUR (+6.13%), CORNERST (+1.49%), CONHALLPLC (+1.35%) and ETERNA (+6.25%).
On the other hand, the Banking Index was the only decliner. shedding 0.61% due to profit-taking in FBNH 1.58%). ACCESSCORP (-0.90%) and ZENITHBANK 0.59%). Elsewhere, the Industrial index ended the session unchanged.
MARKET ACTIVITY:
Market activity was negative as both traded volume and value declined by 15.90% and 23.35% to 343.72 million units and N8.63 billion, respectively.
MARKET BREADTH:
The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 0.89x from 0.40x as 25 stocks appreciated, 28 stocks depreciated, and 73 stocks closed flat.
SYSTEM LIQUIDITY:
System liquidity increased to N1.99 trillion on Wednesday, up from N 1.69 trillion on Tuesday.
FIXED INCOME MARKET:
The Treasury bills market traded relatively stable, with an average yield closing at 21.92%, while the bond market traded slightly bullish, with an average yield closing at 19.52%.
CURRENCY MARKET:
The Naira appreciated by 0.05% to close at N1,509.53.
