Nigerian Equities Market Closed Positive…ASI Up by 8bps

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Naira Gains against the USD at the Bureau De Change, Parallel (“black”) Markets Brandspurng
Afolabi Sotunde Illustration Naira

The market closed on a positive note amid bargain hunting in large and mid-cap stocks. The benchmark All Share Index (ASI) advanced by 0.8 bps to 40,150.78 with market capitalization gaining N15.98bn to settle at N20.99tn. In summary, the Year to Date (YtD) performance closed at -0.30%.

Performance across different sectors was broadly bullish with 3 out of the 5 sectors under coverage closing in the green zone. Oil & gas, banking and consumer goods indices went up by 0.85%, 0.19% and 0.46% following buy sentiments in the shares of ARDOVA (+9.79%), ZENITH BANK (+0.78%) and GUINNESS (+2.78).

Conversely, insurance index waned by 72 bps on the back of selloffs in LINKASSURE (-10.00%) and MANSARD (-3.36%).

Investors’ sentiment improves as 28 stocks advanced while only 24 stocks declined to indicate a 1.17x market breadth. Activity level was however mixed as the volume of transactions advanced by 0.72% amid 31.75% decline in value.

Nigerian Equities Market Closed Positive...ASI Up by 8bps

The bond market traded on a mixed note as yield advanced on mid and long-dated instruments while those on short maturities inched lower.

Notably, the yield on the FGN-JAN-2022 and MAR-2024 declined by 0.01% and 0.02% to close at 2.48% and 4.40%. However, Yield on the FGN-MAR-2025 and FEB-2028 advanced to 5.50% and 6.93% respectively.

Market Snapshot

  • Nigerian Equities Market Closed Positive…ASI Up by 8bps
  • The bond market traded on a mixed  note as yield advanced on longer maturities
  • U.S. Stocks Contract on Covid-19 pressure
  • Oil  reverse uptrend  as Rally Takes a Breath
  • Naira depreciated by 63bps against the USD at the parallel market to close at N475/$