Sustained Growth In The Equity Market, Market Up By 0.71%

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Sustained Growth in the Equity Market, Market Up By 0.71%

After today’s trading session, the stock market continued to its upward trend, growing by 0.71% to 39,493.37 points. Consequently, the year-to-date performance has improved to -1.93%, from the previous session’s -2.62%.

The Banking sector saw the most growth, advancing by 2.06% following price gains in JAIZBANK (8.47%) and GUARANTY (4.28%). The Insurance sector grew by 0.56%, while the Consumer Goods and Industrial sectors gained 0.19% and 0.07% respectively. The Oil and Gas sector was the only one to record a negative performance, dropping 0.50% following a loss in OANDO.

With 28 stocks advancing and 12 stocks declining today, the market breadth moved upwards from 1.54x to 2.33x. The volume and the value of trades in the market increased significantly, compared to the most recent trading session; the volume grew by 108.10%, while the value grew by 281.75%, as investors traded a total of 522.17 million units of shares worth ₦10.65bn in 4,566 deals.

Sustained Growth In The Equity Market, Market Up By 0.71% - Brand Spur

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Fixed Income Market

In the bond market, the yields of short-term bonds dropped, while those of long-term bonds increased. The FGN-MAR-2024 bond yield declined by 2bps to 7.50%, along with the FGN-MAR-2025 which declined by 1bp to 10.48%. On the other end of the curve, the FGN-JUL-2045 bond yield increased by 6bps to 11.90%, and the FGN-MAR-2050 bond yield climbed up  14bps to 11.67%.

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Treasury bill yields remained stable for the 91-day and 365-day instruments at 2.80%, and 6.64%, while the yield for the 180-day instrument compressed by 28bps to 4.34%.

MARKET SNAPSHOT

  • Sustained Growth in the Equities Market, Market Up By 0.71%
  • Bond Yields Compress on the Short End of the Curve And Rise on the Long End
  • US Stocks Drop After Tech and Media Stock Sell-Offs
  • Oil Drops After Ever Given Ship is Refloated
  • Parallel Market Exchange Rate Remains Stable at ₦485/1$
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Sustained Growth In The Equity Market, Market Up By 0.71% - Brand SpurSustained Growth In The Equity Market, Market Up By 0.71% - Brand Spur

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Sustained Growth In The Equity Market, Market Up By 0.71% - Brand SpurSustained Growth In The Equity Market, Market Up By 0.71% - Brand Spur

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