Week Opens Negative on the NSE ASI, Index Down by 0.39%

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Week Opens Negative on the NSE ASI, Index Down by 0.39%

The bearish sentiment from last week continued into this week, as the market opened with a -0.39% decline which has the All-Share Index at 38,766.61. The market capitalisation dropped as well to ₦20.28 trillion. Year-to-date, the market has currently shed 3.73%

All sectors declined by some magnitude in today’s trading session. The Banking sector recorded the most losses, shedding 1.67%, while the Industrial and Consumer Goods sector declined by 0.52% and 0.39% respectively.

Following a price drop in MRS (-9.92%), the Oil and Gas sector lost 0.11%, while the Insurance sector lost 0.53% despite gains in LINKASSURE (9.72%).

Week Opens Negative on the NSE ASI, Index Down by 0.39%

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With 14 stocks advancing and 21 stocks declining today, there is a stark reversal in investor sentiment. The market breadth of 0.67x illustrates this when contrasted with  2.25x recorded in the previous session. 224.59 million shares worth ₦2.14 billion were traded today in 4,675 deals. When compared to the previous trading session, this indicates a 6.19% and 7.43% decline in volume and value respectively.

Fixed Income Market

There was mixed activity in the bond market, where the yields of bonds like the FGN-JAN-2022 and FGN-JAN-2026 dropped by 4bps to 6.30% and 1bps to 10.04%; while those of the FGN-MAR-2024 and FGN-JUL-2030 increased by 3ps to 7.56% and by 22bps to 11.17% respectively.

Read Also:  Equity market sustains new year bullish run, gained 9.07% w/w

Treasury bill yields remained stable for the 91-day and 180-day securities at 2.43%, 4.34%. However, there was a slight decline (-1bps) in the yield of the 365-day instruments to 6.63%.

Market Snapshot

  • Week Opens Negative on the NSE ASI, Index Down by 0.39%
  • Mixed Activity Along The Bond Yield Curve
  • Mixed Performance in Global Stocks After Recent Rally
  • Oil Prices Stall Ahead of Iran Nuclear Talks
  • Parallel Market Exchange Rate Remains Stable at ₦485/1$
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Week Opens Negative on the NSE ASI, Index Down by 0.39% - Brand SpurWeek Opens Negative on the NSE ASI, Index Down by 0.39% - Brand Spur

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Week Opens Negative on the NSE ASI, Index Down by 0.39% - Brand SpurWeek Opens Negative on the NSE ASI, Index Down by 0.39% - Brand Spur

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- Advertisement -Week Opens Negative on the NSE ASI, Index Down by 0.39% - Brand SpurWeek Opens Negative on the NSE ASI, Index Down by 0.39% - Brand Spur