The Nigerian equities market extend positive momentum amid extended bargain hunting on bellwether stocks. Notably, The All Share Index (ASI) advanced by 1.03bps to 39,512.31 with market capitalization also gaining N213.37bn to settle at N20.66tn.
Consequently, the Year to Date (YtD) performance advanced to 47.20%. The sectoral performance was also bullish as 3 out of the 5 sectors under our coverage closed positive.
Industrial and Consumer goods and insurance indices went up by 3.74%, 0.36% and 2.96% following bargain hunting in the shares of BUACMENT (+10.00%), INTBREW(+10.00%) and LINKASSURE(+8.33%).
On the other hand, Banking and oil & gas indices declined by 0.71% and 0.39% as selloffs were witnessed in ACCESS(-2.23%) and OANDO(-3.31%).
Investors’ sentiment measured by market breadth was positive as 24 stocks advanced while 19 stocks declined to indicate a 01.26x market breadth. A 48.39% decrease in volume and 162.57% increase in the value of the transaction was recorded amid a 2.86% increase in the number of trades.
The bond market traded on a quiet note as the yield on short and mid dated instruments advanced. Notably, Yield on the FGN-MAR-2025 advanced by 0.26% to close at 5.45% while Yield on FGN-JUL-2030 remained stable at 7.19%.
MARKET SNAPSHOT
- Local Bourse Sustained Bullish Momentum…Investors Gained N213.37bn
- The bond market traded on a quiet mood
- U.S. Stocks Rise on Vaccine Optimism
- Oil Poised further gains on new energy demand outlook
- Naira maintained stability against the USD at the parallel market
