Bullish Trend Revives at NGX, Naira Gains 0.34%

The local bourse inched up modestly today, as the All-Share Index rose by 3 basis points to 104,560.02 points. The mild bullish move reflects a measured return of investor confidence, following Monday’s cautious tone and last week’s volatility.

Positive sentiment dominated the market, fueled by buying interest in bellwether stocks such as INTBREW (+4.36%), ACCESSCORP (+3.13%), FIDELITYBK (+0.55%), and NB (+0.31%), along with 19 other advancers, even as 29 stocks closed in the red.

Consequently, the Year-to-Date (YTD) return moderated to 1.59%, while market capitalization appreciated by 3 basis points to ₦65.70 trillion, reflecting a ₦19.11 billion increase in investors’ wealth.

Sectoral performance was mixed at the close of today’s trading session. The Consumer Goods and Insurance sectors posted gains of 0.72% and 0.15%, respectively, driven by price upticks in

UNILEVER, INTBREW, NB, CONHALLPLC, CUSTODIAN, and MANSARD. The Banking sector was the sole decliner, pressured by sell-offs in FBNH, GTCO, and ZENITHBANK, while the Oil & Gas and Industrial Goods sectors ended the day flat.

MARKET ACTIVITY: Market activity was mixed, as trading volume declined by 13.87% to 368.77 million units, while the value of transactions rose by 3.35% to ₦10.87 billion.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio decreased to 0.83x from 1.17x as 24 stocks appreciated, 29 stocks depreciated and 76 stocks closed flat.

FIXED INCOME MARKET: Average yields on Treasury Bills was mostly flat with bullish sentiment closing at 20.69%, while bond market data was unavailable as of reporting time.

CURRENCY MARKET: The Naira appreciated by 0.34% to ₦1,598.95