EQUITIES MARKET:
The Nigerian equities market maintained its upward trajectory, extending the ongoing rally as bullish sentiment continued to dominate trading activity. The benchmark NGX All-Share Index advanced by 56 basis points to close at 166,771.95 points, reflecting a market fuelled by firm investor confidence.
The market strenghtened further due to gains in SEPLAT, MBENEFIT, CHAMPION, ARADEL, TRANSCORP, ZENITHBANK, VITAFOAM, FIRSTHOLDCO, DANGSUGAR, NGXGROUP and 37 other top-performing stocks.
As a result, the year-to-date return improved to 7.17%, while market capitalization rose by 0.56% to ₦106.78 trillion, translating to a ₦598.41 billion increase in investor wealth.
Sectoral performance was majorly positive, with four of the five tracked indices closing high. The Oil & Gas index led the gainers, up 6.26%, due to sustained interest in SEPLAT, ARADEL and JAPAULGOLD. In tandem, the Insurance index gained 0.78%, driven by MBENEFIT and AIICO, while the Banking index added 0.05% on the back of appreciations in JAIZBANK, ZENITHBANK and FIRSTHOLDCO. Also, the Industrial Goods index edged higher by 0.01%, buoyed gains in CAVERTON and CWG. Meanwhile, the Consumer Goods (-0.2%) Index was the sole laggard, weighed down by losses in PZ, NASCON, HONYFLOUR and INTBREW.
MARKET ACTIVITY: Market activity was negative, as traded volume and value depreciated by 32.64% and 11.03% to 761.94 million units and ₦29.85 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 2.45x from 4.15x as 47 stocks appreciated, 28 stocks depreciated, and 56 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bill market closed bullish at 18.34%, while the Bond market closed slightly bearish at 16.80%.
OFFICIAL WINDOW: The Naira depreciated by 0.03% to close at ₦1,420.04
