Equities Market Retracts…ASI waned by 17 bps

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Equities Market Retracts…ASI waned by 17 bps

The domestic bourse opened the week on a negative note as the All-Share Index (ASI) declined by 17bps to 30479.39 while the market capitalization lost N26.8bn to close at N15.93 trillion. Consequently, year to date (YTD) performance settles at +13.5%.

Performance across sectors was mixed as 3 sectors out of the 5 sectors under coverage close bearish. Oil & Gas, Banking and industrial indices waned by 1.21%, 0.78% and 0.06% respectively as negative sentiments were witnessed on  OANDO (-6.55%), ETI (-8.85%) and JBERGER(-2.52%).

Conversely, insurance and consumer goods indices advanced by 0.70% and 0.57% due to bargain hunting in the shares of  REGALINS (+9.09%) and DANGSUGAR (+9.78%)

The bond market traded on a quiet note as average yield remained stable across major maturities.  Average yield compressed marginally by 0.01% with declined experienced toward the long end of the curve.

Market Snapshot

  • Equities Market Retracts…ASI waned by 17 bps
  • Bond market traded on a quiet note as average yield remains stable
  • U.S. Stocks Rise to Open Historic Week After Slump
  • Naira strengthens  against the greenback in both the I&E and Parallel Market

Equities Market Retracts...ASI waned by 17 bps Brandspurng

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