The equities market returns to the negative region amid a continued bearish trend in the banking sector. At the close of market proceedings today, the All-Share Index declined by 4bps to close at 38,706.13.
Similarly, the market capitalization shed N7.68bn to settle at N20.25tn. Consequently, the year-to-date performance printed at -3.89%
Bearish performance was witnessed across sectors with 3 of the 5 sectors closing positive. Notably, the Insurance and Banking indices went down by 1.03% and 0.02% following sell pressures witnessed in MANSARD (-5.05%) and GUARANTY (-1.75%). On the flip side, the Oil & Gas index advanced by 1.27% on as a result of buy interest in OANDO (9.67%) and SEPLAT (0.92%)
Investor sentiment as measured by the market breath however turned positive to 1.08x arising from 12 advancers and 11 decliners. However, activity level weakens as both volume and value of transactions declined by 19.68% and 36.35% respectively. A total of 177.40 million units of shares worth N2.68bn units of shares was traded in 4,103 deals.
Fixed Income Market
The yields in the bond market moved higher on the back of selloffs across shorter maturities. Notably, the yields on the FGN-MAR-2025 and MAR-2027 advanced by 7bps and 8bps respectively.
At the NTB market, the yields on the 91-day, 184-day and 364-day maturities remain stable at 0.94%, 3.60% and 4.16%
Market Snapshot
- Bears Return to the Equity Market…NSE ASI Dips by 4bps
- Local Bond Yields Advanced Across Short Maturities
- US Stocks Retreat Amid Treasury Yields Angst
- Oil Falls with U.S. Crude Supplies Above Half a Billion Barrels
- Naira was stable against the USD at the Parallel Market to Close at N485/$