Marginal Decline In The Stock Market, NSE ASI Sheds 77 Points

Purchasing A Home Versus Investing In The Stock Market
Purchasing A Home Versus Investing In The Stock Market

The Stock Market declined by 0.20% at the close of today’s trading session. At 39,216.20 points, the market is down by 2.62% from year to date. The market capitalization reduced by the same magnitude from ₦20.56tn to ₦20.52tn.

The Consumer Goods sector advanced by 0.51%, following price gains in stocks like GUINNESS (9.89%). The Industrial and Banking sectors also grew today by 0.08% and 0.48% respectively. There were losses in the Insurance sector on the back of price drops in stocks like WAPIC (-7.27%) and AFRINSURE (-4.76%); as well as in the Oil and Gas sector which declined by 0.20%.

The market breadth fell from 1.92x. to 1.54x, signaling a less positive investor sentiment in today’s market.  The volume and the value of trades in the market moved in different directions: the volumes grew by 9.37%, while the value declined by 26.21%, as investors traded a total of 250.32 million units of shares valued at ₦2.79bn in 3,746 deals.

Fixed Income Market

The bond market saw a lot of activity today in both directions. The FGN-APR-2024 bond yield compressed by 46bps to 7.51%, while the FGN-FEB-2028 increased by 37bps to 10.50%. Most longer-term bonds saw their yields increase, for instance, the FGN-APR-2037 increased by 11bps to 11.57%

Treasury bill yields remained stable for the 91-day, 180-day, and 365-day instruments at 2.80%, 4.62%, and 6.65%

Market Snapshot

  • Marginal Decline in the Stock Market, NSE ASI sheds 77 Points
  • Mixed Activity Along the Yield Curve, Long Term Bond Yields Sustain Rise
  • Dow Rises Amid Data Showing Subdued Inflation
  • Brent Crude Maintains Steady Rise, Closes at $64.70 Per Barrel
  • Parallel Market Exchange Rate Moves from ₦486/$ to ₦485/$