Equities Market Closed Flat Amid Expectation of Q3 Performance

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Equities Market Closed Flat Amid Expectation of Q3 Performance

The All Share Index (ASI) advanced by 2 bps closing at 28,344.04 while market capitalization gained N3.4bn to close at 14.82 trillion as investors await  Q3 results.

Sector performance was bullish as 3 out of the 5 sectors under coverage closed positive. Consumer goods,  insurance and oil and gas indices advanced by 0.88%, 0.34% and 0.11% on the back of bargain hunting in INTEBREW and ETERNA. Banking index however declined by 1.88% due to negative sentiment in GUARANTY while industrial index closed flat.

Equities Market Closed Flat Amid Expectation of Q3 Performance

The bond market traded on a bullish note as average yield compressed across different maturities. There was improved demand on mid and long-dated maturities as yield declined by 0.78% and 0.88% respectively

Market Snapshot

  • Equities market closed flat,…ASI inch up by 2 bps
  • Bonds market traded on a positive note with improved interest in longer-term maturities
  • Global stocks halt rally with stimulus talks on hold
  • Oil Rises Above $40 After Recovery in Chinese Crude Imports
  • Naira weakens against major currencies in the parallel market