The Nigerian equities market bounced back from six consecutive days of losses, gaining N95 billion in market capitalization on Tuesday, November 25 to close at N91.441 trillion, while the benchmark All-Share Index (ASI) advanced by 148.52 points or 0.10% to close at 143,763.13 points.
Gains in GTCO (+1.4%), STERLINGNG (+9.0%), FIRSTHOLDCO (+1.5%), and UACN (+7.2%) largely drove the market performance.
As a result, Month-to-Date (MtD) and Year-to-Date (YtD) returns improved slightly to -6.7% and +39.7%, respectively.
Sectoral Performance
CBN’s retained policy parameters major trigger
Stockbrokers attributed the market rebound to investors reacting positively to the Central Bank of Nigeria’s (CBN) decision to retain key monetary policy parameters unchanged at its 303rd Monetary Policy Committee (MPC) meeting.
“The policy stance signalled stability to market participants, spurring interest in medium and large capitalised stocks.,” Mr. Tajudeen Olayinka, CEO Wyoming Capital and Partners, told Naijaonpoint. According to him, the decision to keep the benchmark interest rate unchanged helped renew buying interest, particularly among cautious investors seeking policy clarity.
Monetary policy parameters
The market sentiment was strengthened as 26 stocks advanced versus 20 that declined. Gains recorded were largely in Eunisell Interlinked, NAHCO, UACN, NCR Nigeria, and Ikeja Hotel.
Top 5 Gainers
Top 5 losers
Activity level drops despite positive trend
Market activity slowed as total volume traded declined by 18.62% to 556.153 million units, valued at N18.714 billion, across 19,500 deals.
FirstBank Holdings (FBNH) recorded the highest activity with 93.717 million shares worth N2.909 billion.
Outlook
Market analysts at Cordros Capital say the CBN’s policy continuity is expected to sustain investor confidence in the near term.
Market analysts at Cordros Capital say the CBN’s policy continuity is expected to sustain investor confidence in the near term.
However—while rate retention signals stability—analysts warn that earnings resilience and liquidity flows will remain key determinants of market direction until stronger macroeconomic indicators emerge.