Nigerian Bourse Closed Flat as Investors Await Q3 Earnings

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The All Share Index (ASI) settled at 28,344.03 while market capitalization gained N153m to close at 14.82 trillion amid declining volume and value of transactions.

Sector performance was bullish as 4 out of the 5 sectors under coverage closed positive. Insurance and banking indices gained 0.60% and 0.46% as a result of gains in CORNERST (+5.00%) and GUARANTY (+1.5%). Similarly, Consumer Goods and Industrial indices advanced by 0.21% and 0.15% on the back of bargain hunting in GUINNESS (+3.3%) and PZ (+5.00). Oil and Gas index, however, closed negative as negative sentiment persists in the shares of ARDOVA (-3.6%).

Nigerian Bourse Closed Flat as Investors Await Q3 Earnings
Nigerian Bourse Closed Flat as Investors Await Q3 Earnings | www.brandspurng.com

Bond market continued on a positive note as average yield compressed across different maturities. The yield on mid and long-dated maturities declined by 0.23% and 0.15%  respectively.

Nigerian Bourse Closed Flat as Investors Await Q3 Earnings
Nigerian Bourse Closed Flat as Investors Await Q3 Earnings | www.brandspurng.com

Market Snapshot

  • Nigerian Bourse closed flat as investors await the release of Q3 earnings
  • Bonds market traded on a positive note amid today’s  NTB primary market auction
  • Global stocks rebound as earnings roll in in US market
  • FBN issues $500m Eurobond
  • Naira depreciates further in the parallel market
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Nigerian Bourse Closed Flat as Investors Await Q3 Earnings - Brand SpurNigerian Bourse Closed Flat as Investors Await Q3 Earnings - Brand Spur

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