The Nigerian equities market traded on a positive note as investors position for earnings release. The benchmark All Share Index (ASI) went up by 121bps to close at 41,584.94 with market capitalization adding N259.45bn to settle at N21.75tn. In summary, the Year-to-Date (YtD) performance improves to 3.26%.
Sectoral indices tolled different part with 3 of the 5 sectors under coverage closing positive. Notably, the insurance, consumer goods and industrial indices advanced by 0.40%, 0.54% and 0.25% buoyed by positive sentiments in AFRINSURE (+9.09%), CHAMPIONS (+9.81%) and WAPCO (+3.77%). Conversely, Oil & gas and banking indices waned by 5.31% and 0.14% following losses in SEPLAT (-9.26%) and ZENITH BANK (-0.94%).
Investors’ sentiment was also positive as 32 stocks advanced while 19 stocks declined to indicate a 1.68x market breadth. Market activity level improves as both the volume and value of transaction advanced by 40.47% and 110.79%. Investors traded a total of 467 million units of shares valued at N5.57billion.
Fixed Income Market
The bond market traded on a negative note with yield advancing across different maturities. The yield on the FGN-MAR-2025 and MAR-2035 advanced to 6.68% and 9.90%
Treasury bills market traded on a quiet note as yield remained stable on the 90-day and 364-day maturities.
OBB and OVN rate compressed to 4.50% and 5.25% respectively amid sustained buoyant system liquidity.
Market Snapshot
- Local Equities Rebounds…Investors Gained N259.45bn
- The bond market traded on a muted note as yield maintain stable across maturities
- U.S. Stocks Traded Positive on Vaccine Hope
- Oil Wavers With Concerns Lingering Over China Consumption
- Naira lost N3 against the USD at the parallel market to close at N480/$
