The local stock market kicked off the week on a bullish note, as the All-Share Index rose by 0.23 percent, closing at 97,685.64 points.
This positive movement extended to the market capitalisation, which also increased by 0.23 percent to ₦56.13 trillion, adding ₦131.6 billion to investors’ portfolios.
As a result, the year-to-date (YTD) return grew to 30.64 percent. Despite the overall bullish momentum, sectoral performance was mixed. The Insurance sector posted the sharpest decline, falling by 1.52 percent, followed by the Oil and Gas sector (-0.62%) and Industrial sector (-0.01%).
On the other hand, the Banking and Consumer Goods sectors registered gains of 1.45 percent and 0.94 percent, respectively.
The session saw equal numbers of gainers and losers, with 26 stocks advancing and 26 declining.
Top gainers included FLOURMILL and FBNH, both rising by 10 percent, followed closely by VITAFOAM (+9.94%), CAVERTON (+9.84%), and HONYFLOUR (+4.92%).
Trading activity was robust, with the number of deals, volume, and values all experiencing significant increases of 37.07 percent, 14.14 percent, and 45.31 percent, respectively.
A total of 47.13 million units were exchanged across 12,066 deals, reaching a value of ₦9.4 billion.
JAPAULGOLD led in trading volume, with 72.27 million units valued at ₦178.3 million. FBNH led in traded value at ₦1.46billion.
NIBOR rates declined across all tenors reflecting system liquidity. Likewise, the Open Repo Rate and Overnight Lending Rate declined by 0.74 percent and 0.73 percent to 30.46 and 31.00, respectively.
Nigerian Interbank Treasury Bills True Yield (NITTY) witnessed upward movement across most maturities. The average secondary market yield on T-bills moderated by 0.04 percent to 18.19 percent.
In the secondary market for FGN Bonds, average yield bond stayed muted at 18.84 despite mixed trading activity.
In Nigeria’s sovereign Eurobonds market, buy pressure at the short, mid and long ends of the yield curve led to a 0.32 percent decrease in the average yield to 9.63 percent.
In the foreign exchange market, the Naira depreciated by 7.12 percent, closing at ₦1,656.49 per dollar at the official market. In the Parallel market, the Naira closed at ₦1,635 to the dollar.
