Market Gains ₦317.84 Billion Despite Naira's 0.17% Depreciation

The market resumed on a strong note after the Easter break, as the NGX All-Share Index advanced by 49bps to settle at 104,739.61 points. The bullish sentiment was fueled by renewed investor confidence and buying interest across key sectors.

Bullish sentiment prevailed throughout the session, buoyed by strong demand for key bellwether stocks like NB (+9.94%), UBA (+2.80%), ACCESSCORP (+2.49%), ZENITHBANK (+2.49%), and GTCO (+1.62%). The rally was further amplified by gains in 36 other stocks, reinforcing the market’s upward trajectory.

As a result, the Year-to-Date (YTD) return increased to 1.76%, while market capitalisation appreciated by 49 basis points to ₦65.82 trillion, representing a ₦317.84 billion addition to investor wealth.

Sectoral performance skewed bullish, with four out of the five sectors under our coverage closing in the green. The Consumer

Goods and Insurance sectors led the charge, posting gains of

2.50% and 2.16%, respectively, on the back of strong performances in INTBREW, NB, CORNERST, NEM, and CONHALLPLC. The Banking and Industrial Goods sectors also recorded gains, supported by price upticks in UBA, ACCESSCORP, ZENITHBANK, GTCO, CUTIX, and WAPCO. Meanwhile, the Oil & Gas sector was the lone laggard, dragged down by sell-offs in OANDO.

MARKET ACTIVITY: Market activity dipped, with trading volume down by 6.11% to 353.28 million units, while the total value of trades slipped by 8.99% to ₦7.20 billion.

MARKET BREADTH: The market breadth, which measures investor sentiment through the Gainers/Losers ratio increased to 2.05x from 0.96x as 41 stocks appreciated, 20 stocks depreciated and 67 stocks closed flat.

FIXED INCOME MARKET: Average yields on Treasury Bills closed relatively flat with a bearish sentiment at 20.76%, while bond closed unchanged at 18.60%.

CURRENCY MARKET: The Naira depreciated by 0.17% to close at ₦1,602.63