Investors Gained N1.05tn in One Week…ASI Advanced by 5.42% WoW

Must Read

- Advertisement -

Performance at the local equities market was dominated with bearish sentiments as the bulls sustained the previous week rally. The market opened the week strong with a 174 bps gain which was followed by impressive gains on Tuesday and Wednesday.

The market however waned by  1bps on Thursday ahead of the Christmas holiday. Consequently, the All-Share Index (ASI) closed the week with a 5.42% gain WoW to close at 38,800.01 with market capitalization adding N1.05tn  to settle at N20.28tn. In Summary, the year-to-date (YtD) performance improves to +44.55%.

Investors Gained N1.05tn in One Week...ASI Advanced by 5.42% WoW Brandspurng

Market breadth, a measure of Investors’ sentiment declined from 3.12x to 1.94x as 35 stocks advanced while 18 stocks declined last week. FTNCOCOA (+43.55%), JAPAULGOLD (+41.18) and BOCGAS(+20.83%) were the top market gainers while TRANSEXPR (-9.20%), JOHN HOLT (-8.93%) and CHAMPION (-7.87%) top the losers’ chart.

Market activity level was positive as both the volume and value of transaction advanced by  48% and 156% respectively.

- Advertisement -

Trading in Access Bank Plc, Zenith Bank Plc and AXA Mansard Insurance Plc accounted for 1.439 billion shares worth N13.881 billion in 2,972 deals, contributing 52.23% and 34.44% to the total equity turnover volume and value respectively.

Investors Gained N1.05tn in One Week...ASI Advanced by 5.42% WoW Brandspurng

Outlook for the week

We expect to see some mixed activity this week as some investors hunt for bargains and others take profits with low fixed income yield influencing decision.

FIXED INCOME MARKET

- Advertisement -

Participants in the FGN bond market traded with caution in anticipation for the Yuletide holiday. The activity was majorly driven by sell-side activity across the bond curve with Average benchmark yields rising by 63bps to close at6.19%.

Read Also:  Major Investor Sells 14.5 million Shares in Mutual Benefits Assurance

The NTB market remained quiet in all the trading sessions last week with average benchmark yields falling by 2bps to 0.34%.

At the Eurobond, the market, the new strain of coronavirus, fear of crude oil demand slump and its implied impact on crude oil prices held investors in a cautious sentiment with a bearish bias across tickers. Consequently, the average benchmark yields rose by 18bps to 5.67%.

Outlook for the week

In the absence of any catalyst to drive the market, we expect the market to trade sideways as the year winds to a close.

GLOBAL MARKETS

- Advertisement -

The US S&P 500 and Dow Jones indices both advanced by 0.75% and 0.70%  following upbeat on the new stimulus package. Other global stocks also closed positive safe UK FTSE with concerns about rising numbers of coronavirus cases and update on post-Brexit trade deal impacting bearish sentiments.  Notably,  German DAX and French CAC advanced by 1.17% and 1.10%  while UK FTSE  waned by 0.41%.

Read Also:  Investors remained resilient amid Nationwide Unrest…Market up by 13 bps

Outlook for the week

We expect reactions on the UK post Brexit deals and development from the US stimulus package to buoyed market performance this week.

- Advertisement -
spot_imgspot_img

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Investors Gained N1.05tn in One Week...ASI Advanced by 5.42% WoW - Brand Spur

Unilever Nigeria Holds 96th AGM, Declares N62bn Turnover in 2020

Leading consumer goods producer, Unilever Nigeria Plc has declared a turnover of N62 billion for the financial year ended December 2020, even as the...
- Advertisement -
spot_imgspot_img

Latest News

Unilever Nigeria Holds 96th AGM, Declares N62bn Turnover in 2020

Leading consumer goods producer, Unilever Nigeria Plc has declared a turnover of N62 billion for the financial year ended...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img