NGX-ASI Soars 58bps to 104,788.25, ₦377.81bn Added to Invest...

… Naira depreciated by 1.08% to ₦1,628.94

The local bourse rebounded from yesterday’s dip, as the All-Share Index climbed 58 basis points to close at 104,788.25 points. The bullish sentiment reflects renewed investor confidence and bargain hunting across key sectors.

Bargain hunting in bellwether stocks such as FIDELITYBK (+8.94%),

ZENITHBANK (+4.02%), UBA (+3.52%), GTCO (+2.62%), OANDO (+1.98%), FIRSTHOLDCO (+1.83%), and 38 other gainers fueled the positive sentiment.

As a result, the Year-to-Date (YTD) return eased to 1.81%, while market capitalization rose by 58 basis points to ₦65.84 trillion, translating to a ₦119.22 billion gain in investors’ portfolios.

Sectoral performance leaned positive, with four out of five tracked indices ending in the green, while the Industrial sector closed relatively flat. The Insurance and Banking sectors led the rally, driven by notable gains in UNIVINSURE (+6.00%), AIICO (+5.15%), LASACO (+4.17%), FIDELITYBK (+8.94%), ZENITHBANK (+4.02%), UBA (+3.52%), and GTCO (+2.62%). Meanwhile, the Consumer Goods and Oil & Gas sectors recorded modest gains of 0.59% and 0.08%, respectively, supported by strong performances in HONYFLOUR (+7.04%), DANGSUGAR (+3.37%), INTBREW (+3.00%), and OANDO (+1.98%).

MARKET ACTIVITY: Market activity traded mixed with volume appreciated by 14.85% to 432.56 million units while the value traded declined by 18.24% to ₦9.72 billion.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio 1ncreased to 4.09x from 1.43x as 45 stocks appreciated, 11 stocks depreciated and 71 stocks closed flat.

FIXED INCOME MARKET: Average yields on Treasury Bills inched up slightly to 21.09%, reflecting a mildly bullish stance, while the bond market remained stable at 18.60%.

CURRENCY MARKET: The Naira depreciated by 1.08% to ₦1,628.94