The Nigerian equities market started the year on a positive note, with the All-Share Index (ASI) increasing by 0.25% to close at 103,180.14 points on Thursday. This growth resulted in a N154.7 billion rise in market capitalization, bringing it to N62.92 trillion.

The year-to-date (YTD) return reflected the market’s strong start, standing at 0.25% after the first day of trading. Sectoral performance was predominantly positive, with the insurance sector leading the charge, recording a remarkable 9.50% gain. The banking and consumer goods sectors also performed well, rising by 0.27% and 0.16%, respectively. However, the oil & gas and industrial goods sectors experienced slight declines of 0.03% and 0.16%.

Investor sentiment remained bullish, as 58 stocks gained, compared to just 8 decliners. Notable gainers included Cutix, Intenegins, Mansard, NCR, and Royalex, all posting the maximum 10% daily price increase. On the downside, Ellahlakes and Nascon were among the laggards.

Trading activity surged, with 829.75 million shares valued at N5.67 billion exchanged across 11,752 transactions. Royalex led trading volume with 290.9 million shares worth N318.6 million. In the fixed-income market, the Nigerian Interbank Offered Rate (NIBOR) fell across all maturities, signaling healthy liquidity within the banking system. Similarly, the Nigerian Interbank Treasury Bills True Yield (NITTY) dropped, and the average yield on Treasury bills moderated to 25.51%.

Meanwhile, the naira depreciated by 0.36% at the official market, closing at N1,541.36 per dollar, while it weakened further in the parallel market, ending the day at N1,655 per dollar.