…The Naira appreciated by 0.87% to close at ₦1,354.26
The Nigerian equities market rallied at the close of trading today to sustain its bullish momentum, as the benchmark All-Share Index (ASI) advanced by 129 basis points to close at 173,946.22 points. The market remained positive, driven by industrial goods and oil & gas stocks in undervalued positions attracting notable investor interest.
The bullish momentum was sustained by appreciations in MAYBAKER, CAP, DANGCEM, ARADEL, NB, NGXGROUP, WAPCO, UBA, ACCESSCORP, ZENITHBANK, FIRSTHOLDCO and 48 other gainers that contributed to the market performance.
As a result, the year-to-date return improved to 11.78%, while market capitalization appreciated by 1.29% to ₦111.66 trillion, translating to a ₦1.42 trillion gain for investors.
Sectoral performance was positive, with three of the five tracked indices closing high. The Industrial Goods index led the gainers, up 4.76%, due to increased interest in CAP, DANGCEM, BERGER and WAPCO. In tandem, the Oil & Gas index gained 1.29%, driven by renewed interest in ETERNA, ARADEL and OANDO, while the Consumer Goods index added 0.74% on the back of appreciations in HONYFLOUR, PZ, NB, INTBREW, and DANGSUGAR. Meanwhile, the Banking (-0.04%) and Insurance (-0.03%) indices lost grounds, weighed down by losses in ETI, JAIZBANK, FIDELITYBK, WEMABANK, GTCO, AIICO, PRESTIGE, SOVRENINS and VERITASKAP, respectively.
MARKET ACTIVITY: Market activity was negative as traded volume and value depreciated by 18.72% and 35.21% to 775.18 million units and ₦27.92 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 2.27x from 3.16x as 59 stocks appreciated, 26 stocks depreciated, and 48 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bill market closed bearish at 17.61%, while the Bond market closed flat at 16.13%.
CURRENCY MARKET: The Naira appreciated by 0.87% to close at ₦1,354.26
