…NGXASI advanced 18bps
…Investors wealth rose by N88.73 billion
…NGXASI return +27.46% (YTD)
…Naira appreciated by 5.21% to N740.60 (USD)
The trading week from 6-11 August 2023 came to a close in the domestic stock market with a positive tone, propelled by optimistic market sentiment among investors.
Consequently, the benchmark index, NGXASI, witnessed a rise of 0.18%, concluding at 65,325.37 points, in contrast to the previous session’s 65,204.82 points.
This optimistic performance was largely attributed to an uptick in investor demand for prominent stocks such as MTN (+1.05%), DANGSUGAR (+1.85%), SFSREIT (+9.96%), ETI (+1.94%), TRANSCORP (+8.36%), and 24 other stocks.
Consequently, the year-to-date return advanced to 27.46%, contributing to an 18 basis points rise in the Market Capitalization, which settled at N35.57 trillion. This increase translated to a growth in investors’ wealth by N88.73 billion.
Market activity was positive as volume and value traded increased by 35.57% and 45.60% to settle at 489.69 million units and N8.36 billion, respectively.
The Market Breadth, which measures investor sentiment through the Gainers/Losers ratio, decreased to 1.16x from 1.35x, as 29 stocks appreciated, 25 stocks depreciated and 64 stocks closed flat.
Financial Analysts expect equities to kick off the coming week on a positive note, as investors continue to seek market opportunities.
The Nigerian Naira appreciated by 5.21% against the US Dollar in the I&E Window, closing at a rate of N740.60/USD. Likewise, performance across various market indices displayed positivity, with three out of five indices experiencing gains.
The Insurance index recorded the most substantial growth of the day, rising by 0.37%. This upswing was fueled by notable gains in stocks like CORNERSTONE, AIICO, and LASACO. Following suit, the Consumer Goods (+0.08%) and Banking (+0.01%) indices also saw marginal increases. In contrast, the Industrial index was the sole decliner of the day, experiencing a 0.05% loss. Meanwhile, the Oil & Gas index closed flat.
System liquidity decreased to ₦133.78 billion (on Friday) from ₦322.66 billion (on Thursday).
The Treasury Bills market had a subdued trading day, while there was mild activity in the FGN Bonds market with some demand noted in specific maturities.
Symbol Trades Volume
STERLINGNG 112 86,114,651.00
TRANSCORP 299 66,579,642.00
UNIVINSURE 94 54,847,256.00
LIVINGTRUST 4 24,802,500.00
FIDELITYBK 150 21,477,888.00
