The NSE ASI declined by 0.63%, a deeper fall than yesterday’s 0.19%. Year-to-date the market is in the red, down by 0.15%. The market capitalization currently sits at 21.04 trillion naira, a decline from yesterday’s 21.17 trillion naira.
All 5 sectors under coverage declined today. The Insurance sector was down by 1.54%, Oil & Gas sector was down by 0.20%, the Consumer Goods sector by 0.51%. The Banking and Industrial sectors declined by 2.60% and 0.13% respectively.
Investors’ sentiment was negative today. Market breadth was 0.33x, down from yesterday’s 0.33x, as only 10 stocks advanced in contrast with the 30 stocks that declined.
Fixed Income Market
The performance in the bond market was mostly flat. The yields of bonds with shorter tenors declined further. The FGN-MAR-2024 declined by 14 bps to 7.78% respectively, while the yields of the FGN-FEB-2028 and APR-2029 bonds remained unchanged at 10.45% and 10.43% respectively.
Treasury bills yields remain unchanged across 92-day, 182-day and 364-day tenors at 0.76%, 1.94% to 1.96% and 2.04% to 2.07% respectively.
MARKET SNAPSHOT
- Downward Trend Continues in the Market, All-Share Index Declines By 0.63%
- Contrasting Activity At The Ends of The Yield Curve
- U.S. Stocks Decline; Treasury Yields Resume High
- Oil Briefly Tops $65 in London Amid Shockwaves From U.S. Freeze
- Naira remains stable at N480/$
