Market Resumed The Week on a Positive Note…ASI Crossed 39,000 Points

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Local equities opened the trading week with a bullish sentiment as bargain hunting buoyed market performance across major tickers. Notably, The All Share Index (ASI) advanced by 80bps to 39,110.17 with market capitalization also gaining N167.64bn to settle at N20.20.45tn. Consequently, the Year to Date (YtD) performance improves to 45.70%.

Performance across sectors was however mild as 3  out of the 5 sectors under our coverage closed negative. Industrial and banking indices went up by 2.39% and 1.05% following gains recorded in BAUCEMENT(+6.67%) and ZENITHBANK (+2.04%).

Conversely, Insurance, consumer goods and oil & gas indices waned by 0.81%, 0.05% and 0.06% due to selloffs in MANSARD (-4.76%), GUINNESS(-1.03%) and OANDO(-0.55%)

Investors’ sentiment measured by market breadth was negative as  19 stocks advanced while 20 stocks declined to indicate a 0.95x market breadth. An 85.40% increase in volume and 45.00% decrease in value of the transaction was as well recorded amid the increasing number of trades.

Market Resumed The Week on a Positive Note...ASI Crossed 39,000 Points Brandspurng

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The bond market opened the week bearish as the yield on short and mid dated instruments advanced. Notably,   Yield on the FGN-JAN-2022  advanced by 0.75%  to close at 12.49 while  Yield on  FGN-JUL-2030 rose to 7.19% from the earlier 6.42%

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Market Resumed The Week on a Positive Note...ASI Crossed 39,000 Points - Brand SpurMarket Resumed The Week on a Positive Note...ASI Crossed 39,000 Points - Brand Spur
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Market Resumed The Week on a Positive Note...ASI Crossed 39,000 Points - Brand SpurMarket Resumed The Week on a Positive Note...ASI Crossed 39,000 Points - Brand Spur

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