The equities market kicked off the new trading week and the final week of August on a bullish note, as the NGX All-Share Index (NGXASI) advanced by 31bps to close at 141,439.77 points. Sustained buying interest in bellwether stocks extended the positive momentum from Friday’s rebound.
Strong buying interest in JBERGER, OANDO, INTBREW, GTCO, and ACCESSCORP, together with gains from 34 other stocks, helped push the market higher.
Market capitalization appreciated by 0.31% to ₦89.49 trillion, adding about ₦284.46 billion to investors’ wealth. As a result, the Year-to-Date (YTD) return appreciated to 37.42%.
Sectoral performance leaned positive, with four indices closing higher and only one finishing in the red. The Insurance (+3.81%) and Banking (+1.12%) indices spearheaded the rally, fueled by strong
demand for VERITASKAP, REGALINS, UNIVINSURE, AIICO, LINKASSURE, MBENEFIT, SUNUASSUR, GTCO, and ACCESSCORP.
Reflecting the overall bullish sentiment, the Consumer Goods (+0.29%) and Industrial Goods (+0.02%) indices also posted modest gains on the back of advances in INTBREW, JBERGER, and CUTIX. Conversely, the Oil/Gas index closed as the lone decliner, slipping 0.08%.
MARKET ACTIVITY: Trading activity was negative as total volume and value depreciated by 54.63% and 75.63% to 591.25 billion units and ₦11.66 billion respectively.
MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio depreciated to close at 2.29x up from 3.85x as 39 stocks appreciated, 17 stocks depreciated and 72 stocks closed flat.
FIXED INCOME MARKET: The Treasury bills and Bonds markets closed on a bearish note, with average yields rising to 18.43% and 16.51%, respectively.
CURRENCY MARKET: The Naira depreciated by 0.09% to closed at ₦1,536.42
