…Naira appreciated by 0.22% to N1,526.16
The Local Bourse All-Share Index reversed its recent bearish trend today, experiencing a significant uptick. The index gained 50 basis points, closing at 120,339.90 points, indicating a renewed bullish sentiment in the market after a period of profit-taking.
Positive sentiment was mainly driven by investor interest in highcap stocks like HONYFLOUR, INTBREW, NB, WAPCO, ZENITHBANK, ACCESSCORP, and UBA. Additionally. 54 other equities also saw gains.
The Year-to-Date (YTD) return concluded at 16.92%.
Simultaneously, market capitalization expanded by 0.50% to k76.18 trillion, yet this growth was accompanied by a N378.98 billion decrease in investor wealth.
The equities market saw a largely positive sectoral performance, with three out of five analyzed indices closing higher. The Insurance sector led the gains, fueled by investor interest in heavyweight stocks such as SOVERNINS, GUINEAINS, LINKASSURE, and NE-M. Both the Industrial and Oil/Gas sectors also appreciated, driven by key stocks like WAPCO and ARADEL respectively. Conversely, the
Consumer Goods and Banking sectors registered declines, primarily due to price drops in DANGSUGAR, FCMB, and GTCO.
MARKET ACTIVITY: Market activity saw a significant boost, with trading volume nearly doubling by 99.10% to 1.05 billion units, and value also climbing 7.95% to HI 2.96 billion.
MARKET BREADTH: The market breadth which measures investor sentiment through the Gainers/Losers ratio increased to 4.07x from 61 stocks appreciated, 15 stocks depreciated and 52 stocks closed flat.
SYSTEM LIQUIDITY: Today, system liquidity improved, with the deficit closing at N201.23 billion, a notable reduction from Tuesday’s N480.86 billion.
FIXED INCOME MARKET: The Treasury Bills and Bonds market exhibited bullish sentiment with yields at 17.62% and 19.76% respectively.
CURRENCY MARKET: The Naira appreciated by 0.22% to N1,526.16
