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The Nigerian stock market rebounded on Wednesday, January 29, 2025, as the NGX All-Share Index (NGXASI) rose by 57 basis points to close at 104,549.74 points. This positive trend was driven by renewed investor interest in major stocks such as ARADEL, UBA, OANDO, ZENITHBANK, and 22 others.
Market Performance
The market breadth, which measures investor sentiment, showed a mixed trend. While the Gainers/Losers ratio decreased to 0.68x from 0.94x, 26 stocks appreciated, 38 stocks depreciated, and 61 stocks closed flat.
Sectoral Performance
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Sectoral performance was predominantly bullish, with four of the five indices in our coverage closing in the green. The Oil & Gas Index led the gainers, up 3.34% driven by gains in ARADEL (+10%) and OANDO (+0.74%). The Consumer Goods, Banking, and Industrial indices also rose by 0.81%, 0.75%, and 0.01%, respectively.
The top gainers for the day included ARADEL, which rose by 10%, STANBIC, which gained 9.92%, UPL, DAARCOMM, and CHELLARAM.
On the other hand, the top losers for the day included MCNICHOLS, THOMASWY, VERITASKAP, which declined by 9.79%, CONHALLPLC, which fell by 9.00%, and UNIVINSURE.
Market Capitalization
The market capitalization appreciated by 0.57% to N64.52 trillion, translating to a N364.71 billion rise in investors’ wealth.
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Currency Market
The Naira appreciated by 0.79% to close at N1,510.72.
Fixed Income Market
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Treasury bills traded on a positive note, with the average yield settling at 23.7%, while the bond market remained flat, closing at an average yield of 20.11%.
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