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
