The Nigerian Equities market strengthened on its bullish momentum at the close of trading today, with the NGX All-Share Index advancing by 58 basis points to close at 163,244.69 points. The positive performance was driven by broad-based gains in key sectors and sustained investor confidence in the market.
The market surged, led by strong gains in ETRANZACT, MAYBAKER, WAPCO, FIRSTHOLDCO, NGXGROUP, NB, ARADEL, CADBURY, ACCESSCORP, GTCO and 39 other top-performing stocks.
As a result, the year-to-date return improved to 4.90%, while market capitalization rose by 0.72% to ₦104.52 trillion, translating to a ₦744.99 billion increase in investor wealth.
Sectoral performance was broadly positive, with all five tracked indices closing high. The Oil & Gas index led the gainers, up 1.49%, due to renewed interest in ARADEL. In tandem, the Insurance index gained 0.88%, driven by VERITASKAP, ROYALEX and INTENEGINS, while the Banking index added 0.86% on the back of appreciations in FIRSTHOLDCO, ACCESSCORP and GTCO. Also, the Industrial Goods index edged higher by 0.81%, buoyed by sustained interest in CAVERTON, WAPCO and CWG, while the Consumer Goods index advanced by 0.57%, reflecting modest gains in NB, CADBURY, PZ and INTBREW.
MARKET ACTIVITY: Market activity was positive, as traded volume and value appreciated by 84.17% and 3.84% to 1.15 billion units and ₦19.23 billion, respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 2.45x from 1.71 x as 49 stocks appreciated, 20 stocks depreciated, and 59 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bill market closed slightly bearish at 18.15%, while the Bond market closed bullish at 16.69%.
OFFICIAL WINDOW: The Naira closed at ₦1,423.17
