At the close of today’s trading session, the NSE ASI had grown by 0.98% from yesterday’s position. The index closed upwards at 39,085.78 points, although its year-to-date performance is still in the red at -2.94%.
The market capitalization also grew by the same magnitude, gaining ₦199bn to settle at ₦20.45 trillion.
Despite STANBIC’s 9.99% price gain, the Banking sector declined by 0.21%, thus recording a loss for the second consecutive day. The Insurance sector also lost 0.56%, following price decline in stocks like WAPIC (-9.09%) and LASACO (-0.78%).
The Oil and Gas sector gained 0.68%, following gains in OANDO (8.86%), while the Industrial and Consumer Goods sectors gained 0.65% and 0.73% respectively.
Investor sentiment improved from yesterday, as illustrated by the increase in market breadth market from 0.95x to 1.25x, as 20 stocks advanced in price while 16 stocks declined.
The volume and the value of transactions in the market declined by 11.81% and 4.72%, as investors traded a total of 361.90 million units of shares valued at N5.70bn in 4,018 deals, in contrast to the 410.37 million units valued at 5.98bn which was traded in the previous session.
Fixed Income Market
The yields in the bond remained stable across tenors, with slight movements in yield of longer termed bonds. There was a marginal decline in the yield of FGN-APR-2023 from 6.43% to 6.42%, and some increase in the FGN-JUL-2030 bond yield from10.59% to 10.72%.
In the NTB market, the yields on the 91-day and 181-day bills remained stable, while the 364-day bill increased by 29bps to 6.65%
Market Snapshot
- Rebound in Stocks, NSE ASI up by 0.98%
- Yields Rise for Longer Term Bonds
- S&P 500, Dow Jones Rise as Powell Signals Confidence in Recovery
- Oil Prices Jump on Suez Ship Grounding
- Naira remains stable against the USD at the Parallel Market, Closes at N486/$
