…The Naira closed flat at ₦1,598.69
The domestic bourse ended the second trading session of the week on a slightly positive note amid renewed interest in undervalued stocks and the wake of MPC decision to hold key interest rate at 27.5%. As a result, the NGX All Share Index rose marginally by 3bps to 109,730.47 points from 109,710.37 points in the prior session.
The market upturn was primarily driven by buying interest major stocks such as: NESTLE (+10%), NB (+4.39%), UCAP (+3.28%), GTCO (+1.17%), CUSTODIAN (+0.77%) and 26 other stocks.
Consequently, the Year-to-Date (YTD) return increased to
6.61%. In the same vein, the market capitalization gained 0.03% to ₦68.97 trillion, translating to a ₦20.51 billion increase in investor wealth.
Performance across Sectors was positive as three out of five sectors appreciated. The Consumer Goods index led the charge, up 2.5% due to gains in NESTLE(+10%), UNILEVER (+9.30%) and NB (+4.39%). Following closely was the Insurance and Industrial indices rising by 1.14% and 0.03% driven by price uptick in CUSTODIAN (+0.77%), AIICO (+0.61%), CUTIX (+7.27%) and CAP (+7.13%). On the flipside, the Oil & Gas and Banking indices lost 2.88% and 0.35% owing to profit taking in ARADEL (8.55%), FIDELITYBK (-5%) and WEMABANK (-3.33%).
MARKET ACTIVITY: Market activity traded positive as traded volume and value increased by 2.26% and 16.09% to 497.06 million units and ₦13.21 billion respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio declined to 0.97x from 2.00x as 31 stocks appreciated, 32 stocks depreciated and 63 stocks closed flat.
FIXED INCOME MARKET: In today’s session, both the Treasury Bills Market and FGN Bond Market traded flat with the average yields settling at 20.88% and 18.62%, respectively.
CURRENCY MARKET: The naira closed flat at N1,598.69
