The Nigerian equities (domestic market) extends the bullish trend to the new week as the All-Share Index (ASI) advanced by 28 bps to close at 28,777.96 today. Market capitalization also gained N42.28 billion to close at N15.04 trillion pushing the year to date (YtD) performance to 7.21%.
Performance across sectors was broadly bullish as 3 out of the 5 sectors under coverage closed in the positive territory. Banking, industrial and oil & gas indices advanced by 1.01%, 0.38% and 0.07% respectively due to positive sentiment in the shares of ETI (7.69%), DANGCEM (0.66%) and OANDO (0.87%).
Conversely, consumer goods and insurance indices declined by 0.34% and 0.99% as a result of selloffs in INTBREW (-4.60%) and WAPIC (-7.50%).
The bond market traded on a negative note as average yield advanced across different maturities. Negative sentiments was majorly witnessed on mid dated instruments as average yield advanced by 0.12%.
Market Snapshot
- Domestic Market Opens the week on a positive note…Market Cap. crossed 15tn mark
- Bond market extends the negative trend to the new week
- U.S. Stocks Fluctuate With Intel Taking Tech Lower
- Oil Slumps Below $39 on Surging Virus and Libya Restart
- Naira maintained stability against the greenback across all windows
