The Nigerian equities market has closed on a positive note following gains in large-cap tickers.
Brand Spur Nigeria understands that the NSE ASI gained 0.63% closing at 38,931.25. Similarly, at the close of trading, the market capitalization added N127.87bn to settle at N20.37tn. In summary, the year-to-date performance printed at -3.33%
The breakdown across sectors shows a broadly bullish performance with 3 out of the 5 sectors under coverage closing positive. The Insurance, Consumer Goods and Industrial indices advanced by 0.18%, 0.40% and 1.74% respectively on the back of gains recorded in MBENEFIT (7.69%), NESTLE (1.85%) and DANGCEM (3.64%).
The Banking and Oil & Gas Index however went down due to selloffs in UBA (-2.76%) and ETERNA (-9.94%)
Investor sentiment as measured by the market breadth also turned positive at 1.0x arising from 23 advancers and 23 decliners. The activity level however decreased as both volume and value of transactions declined by 32.55% and 48.79% respectively. Investors traded a total of 368.22 million units of shares valued at N4.91bn in 4,437 deals.
Fixed Income Market
The relatively quiet trend in the Bond market persisted today as market participants continue to trade on a cautious note. The yields on shorter maturities however trended lower while those of long-dated instruments remained unchanged.
The Treasury bills market traded on a muted note as yields remain stable across the 184-day and 364-day maturities at 2.04% and 4.16%
The Bond Market Traded on a Quiet Note as Yields Trend Lower on Short Tenors U.S Stocks Rise, Tech Lags Behind the Following Drop in Yields Oil Fluctuates Near $64 Ahead of U.S. Stockpile Figures Naira was Stable against the USD at the Parallel Market to Close at N484/$.