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%).
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.
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%
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/$
