Upward Movement Sustained In The Stock Market, Sees 0.53% Growth

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NGX ASI Dips By 0.15% As Market Capitalisation Lose N33.36bn To Close At ₦22.59trillion
NGX ASI Dips By 0.15% As Market Capitalisation Lose N33.36bn To Close At ₦22.59trillion

Following yesterday’s 0.98% gain, the NSE ASI closed up 0.53% today. The All-Share Index closed upwards at 39,293.14 points, which puts its year-to-date performance at -2.43%. The market capitalization advanced by ₦108.50bn to settle at ₦20.56tn.

The Insurance sector led the market’s gains today, recording a 0.81% growth. This growth was driven by stocks like WAPIC, which erased yesterday’s loss with a 10.00% price gain today. The Banking sector also went up by 0.60%, driven by STANBIC (9.18%) AND STERLNBANK (9.09%), while the Industrial sector saw marginal gains of 0.07%. The Consumer Goods sector fell by  -0.24%, following price declines in stocks like DANGSUGAR (-2.67%) and HONYFLOUR (-2.50%). A slight decline was also seen  in the Oil and Gas sector which lost 0.05%.

23 stocks advanced in price, while 12 stocks declined in price in today’s trading session, thus highlighting improved investor sentiment.  Thus, the market breadth increased from 1.25x to 1.92x. The volume and the value of transactions in the market declined by 36.61% and 33.69%, as investors traded a total of 229.42 million units of shares valued at N3.78bn in 4,016 deals.

Upward Movement Sustained In The Stock Market, Sees 0.53% Growth - Brand Spur

Fixed Income Market

The yields of long-term bonds continue to rise, as seen at the close of the market today. There was an increase in the FGN-MAR-2035 bond yield by 18bps from 11.30% to 11.48%. and in the FGN-JUL-2045 bond yield by 71bps, from 11.28% to 11.99%. Short to medium-term instruments stayed stable, with the exception of a marginal decline in the FGN-APR-2023 from 6.42% to 6.41%.

In the NTB market, the yields on the 91-day and 181-day bills increased to 2.80% and 4.63% respectively, while the yield on the 364-day bill remained stable.

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MARKET SNAPSHOT

  • Upward Movement Sustained in the Stock Market, Sees 0.53%
  • Longer Term Bonds Sustain Yield Rise
  • US Stocks Fluctuate, Fed Announces Plans to Adjust Monetary Policy
  • Oil Prices Fluctuate, Demand Outweighs Suez Canal Disruption
  • I&E Exchange Rate Fluctuates , Closes at ₦409.75/$