Equities Market Closed on a Negative Note…ASI Declined by 7bps Today

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

Equities Market extends negative trend to 2 consecutive trading sessions amid selloffs in bellwether stocks. This is amid the continued rally in the insurance sub-index of the market.

Notably, the benchmark All Share Index (ASI) declined by 7bps  to close at 41,051.63 with market capitalization loosing N16.08bn to settle at  N21.48n. In summary, the   Year-to Date (YtD) performance dipped to +1.94%.

The Breakdown across different sectors indicates mixed performance with insurance index topping the gainers’ chart. The insurance and consumer goods indices went up 6.29% and 0.56% following bargain hunting in the shares of NEM(+10.00%), PRESTIGE (10.00%) and CHAMPION(+9.63%).

On the other hand, the banking, industrial and oil & gas indices declined by 0.73%, 0.36% and 0.46% on the back of bargain hunting in the shares of ACCESS(-3.65%0, BUACEMENT(-1.13%) and ARDOVA(-8.63%).

Fixed Income Market  The bond market continued  on a bearish note as yields advance across different maturities. Notably, the yield on the FGN-JAN-2026 and  FGN-JUL-2030 increased by 0.03% and 0.55% to 6.67% and 8.35%.  Treasury bills market traded on a quiet note with yield compressing by 0.03% for the 91-day maturities while that of the 182-day and 364-day remained stable at 0.5%. OBB & OVN rate compressed to 0.38% & 0.50%   Market Snapshot  Equities Closed on a Negative Note...ASI Declined by 7bps Today The bond market traded on a negative with yield advancing across tenors U.S. Stocks advanced on the hope of larger stimulus Oil Rises With Broader Market Rallying on Stimulus Hopes Naira was stable against the USD at the  parallel market to close at N475/$

Investors’ sentiment was positive as 43 stocks  advanced while 21 stocks declined indicating a 2.05x.  Market activity level was mixed with the volume of transactions declining by 28.91% while value advanced by 27.90%. Investors traded 525.01 million units of shares valued at N5.34bn in 5,965 deals.

Fixed Income Market

The bond market continued  on a bearish note as yields advance across different maturities. Notably, the yield on the FGN-JAN-2026 and  FGN-JUL-2030 increased by 0.03% and 0.55% to 6.67% and 8.35%.

Treasury bills market traded on a quiet note with yield compressing by 0.03% for the 91-day maturities while that of the 182-day and 364-day remained stable at 0.5%. OBB & OVN rate compressed to 0.38% & 0.50%.

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Market Snapshot

  • Equities Closed on a Negative Note…ASI Declined by 7bps Today
  • The bond market traded on a negative with yield advancing across tenors
  • U.S. Stocks advanced on the hope of larger stimulus
  • Oil Rises With Broader Market Rallying on Stimulus Hopes
  • Naira was stable against the USD at the  parallel market to close at N475/$