Bulls Drive Naira's 0.02% Rise to ₦1,599.55 in Monday Trading

The market rebounded in today’s session, as the NGX-ASI advanced by 34bps to close at 106,116.18 points, driven by renewed buying interest in key stocks.

Strong buying interest in leading stocks such as INTBREW (+10%), GTCO (+6.35%), NB (+3.85%), UBA (+0.59%), FIDELITYBK (+0.50%), and NASCON (+0.09%), alongside 41 additional gainers, sustained the bullish momentum across the market.

Consequently, the Year-to-Date (YTD) return moderated to 3.10%, while market capitalization increased by 0.34% to ₦66.70 trillion, marking a gain of ₦228.49 billion in investor wealth.

Sectoral performance was predominantly positive, with four of the five sectors closing in the green. The Consumer Goods (+2.38%) and Banking (+1.31%) sectors posted significant gains, fueled by price increases in INTBREW, NB, HONYFLOUR, NASCON, GTCO, WEMABANK, UBA, and FIDELITYBK. The Insurance (+0.32%) and Industrial (+0.31%) sectors also advanced, supported by strong performances from CUSTODIAN, LASACO, SOVRENINS, CORNERST, and CONHALLPLC. In contrast, the oil/gas sector showed the sole decline, falling by 2.87% due to profit-taking in ARADEL.

MARKET ACTIVITY:
Market activity was mixed as traded volume appreciated by 16.94% to 500.59 million units while value traded declined by
39.97% to ₦12.11 billion, respectively.

MARKET BREADTH:
The market breadth, which measures investor sentiment through the Gainers/Losers ratio stood at 2.93x as 41 stocks appreciated, 14 stocks depreciated and 73 stocks closed flat.

FIXED INCOME MARKET:

Average yields on Treasury Bills closed slightly bullish at 20.48% while Bonds market closed flat at 18.61%.

CURRENCY MARKET

The Naira appreciated by 0.02% to close at ₦1,599.55.