…The Naira appreciated by 1.25% to close at ₦1,372.91
The Local Bourse closed bullish for the second consecutive session this month, with the benchmark NGX All-Share Index (ASI) advancing by 31 basis points to close at 165,901.57 points. The positive market performance reflected renewed buying interest in stocks considered to be undervalued and fundamentally sound.
The bullish sentiment was influenced by appreciations in ZICHIS, NGXGROUP, FIRSTHOLDCO, ZENITHBANK, PRESCO, DANGCEM, ACCESSCORP, GTCO and 27 other gainers.
As a result, the year-to-date return improved to 6.61%, while market capitalization appreciated by 0.31% to ₦106.49 trillion, translating to a ₦332.49 billion gain for investors.
Sectoral performance remained negative, as three of the five tracked indices ended the session in the red, while two recorded gains. The Insurance index posted the steepest decline, shedding 1.32%, pressured by continued sell pressure in SUNUASSUR, MBENEFIT, LASACO and PRESTIGE.
Similarly, the Consumer Goods, and Oil & Gas indices closed 0.23% and 0.17% lower, weighed down by losses in INTBREW, NNFM, ETERNA, JAPAULGOLD and OANDO, repectively. In contrast, the Banking and Industrial Goods indices edged up by 1.32% and 0.69%, supported by price appreciation in FIRSTHOLDCO, WEMABANK, ZENITHBANK, ACCESSCORP, GTCO, DANGCEM and TRIPPLEG, respectively.
MARKET ACTIVITY: Market activity was mixed as traded volume depreciated by 3.45% to 736.44 million units, while traded value appreciated by 33.98% to ₦24.66 billion.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio, increased to 1.03x from 0.66x as 35 stocks appreciated, 34 stocks depreciated, and 63 stocks closed flat.
FIXED INCOME MARKET: The average yield of the Treasury Bill market closed slightly bearish at 18.31%, while the Bond market closed bullish 16.31%.
OFFICIAL WINDOW: The Naira appreciated by 1.25% to close at ₦1,372.91
