The Nigerian equities market ended the week on a bullish note as the All-Share Index (ASI) appreciated by 47 bps closing at 28,697.06 today. Market capitalization also gained N69.62 billion to close at N14.99 trillion pushing the year to date (YtD) performance to 6.91%.
Performance across sectors was majorly bullish as 4 out of the 5 sectors under coverage closed in the positive territory. Banking and industrial indices advanced by 1.69% and 0.46% respectively due to bargain hunting in the shares of UBA (3.68%), ZENITHBANK (1.69%) and WAPCO (1.42%).
Similarly, consumer goods and oil and gas indices advanced by 0.29% and 0.03% due to positive sentiment in the shares of NASCON (10.00%), PZ (7.32%) and OANDO (0.44%). Conversely, insurance index waned by 0.12% on the back of selloffs in MBENEFIT(-4.76%).
The bond market traded on a negative note as average yield advanced across different maturities. Negative sentiments were majorly witnessed on short-dated instruments as average yield advanced by 0.13%
Market Snapshot
- Domestic Bourse Closed the Week Positive… Market Advanced by 13 bps WoW
- Bond market traded on a negative note
- U.S. Stocks Fluctuate With Intel Taking Tech Lower
- Oil Drops With Libya Boosting Production in Coming Weeks
- Naira maintained stability against the greenback across all windows
