Market Capitalization Crossed N2 Trillion Mark…ASI up by 2.4%

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Bulls hold sway on the local equities market as market capitalization crossed N20 Trillion mark. Notably, The All Share Index (ASI) advanced by 2.40% bps to 38,803.74 with market capitalization also gaining N475.69bn to settle at N20.28tn. Consequently, the Year to Date (YtD) performance improves to 44.56%.

Performance across sectors was bullish as 3 out of the 5 sectors under our coverage closing positive. Industrial, consumer goods and banking indices advanced by 3.10%, 0.40% and 0.18% following gains in the shares of BUA CEMENT (+9.09%), HONYFLOUR(+2.68%) and UBA(+1.19%).

Market Capitalization Crossed N2 Trillion Mark...ASI up by 2.4% Brandspurng
SOURCE: PFI Capital

Conversely, Insurance index went down by 0.81% as a result of bearish sentiment in MANSARD(-3.00%). Oil & gas index, however, closed flat despite gains in JAPAULGOLD(+10.00%)

Investors’ sentiment measured by market breadth was significantly positive as 26 stocks advanced while only 7 stocks declined to indicate a 3.71x market breadth. This was supported by a 238.56% and 82.24% increase in volume and value respectively.

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The bond market extended bearish mood as yield decline marginally on shorter maturities while those on longer maturities on the rise. Notably,   Yield on the FGN-JAN-2022 declined by 0.01%  to close at 1.29 while the Yield on  FGN-JUL-2030 remained at 6.42%

Read Also:  Manufacturing PMI Stands at 57.0% in June 2018 from 56.5% in May 2018

Market snapshot

  • Market Capitalization Crossed N2 Trillion Mark…ASI up by 2.4%
  • Bond market extended on a quiet note…yield compressed on shorter maturities
  • U.S. Stocks Advance as Aid Bill Uncertainty Downplayed
  • Crude Climbs With Equities Ahead of U.S. Storage Report
  • Naira stable against  the USD in the Parallel market to close at N477/$
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Market Capitalization Crossed N2 Trillion Mark...ASI up by 2.4% - Brand SpurMarket Capitalization Crossed N2 Trillion Mark...ASI up by 2.4% - Brand Spur
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Market Capitalization Crossed N2 Trillion Mark...ASI up by 2.4% - Brand SpurMarket Capitalization Crossed N2 Trillion Mark...ASI up by 2.4% - Brand Spur

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- Advertisement -Market Capitalization Crossed N2 Trillion Mark...ASI up by 2.4% - Brand SpurMarket Capitalization Crossed N2 Trillion Mark...ASI up by 2.4% - Brand Spur