The equities market closed on a positive note today, with the All-Share Index marginally growing by 0.02% in a slight reversal from yesterday’s decline. Thus, the NSE ASI closed at 38,774.03 and the market capitalisation grew by ₦3.89bn to ₦20.29tn. Year-to-date, the market is down by 3.72%.
The Consumer Goods sector led the gains today, recording 1.88% growth. However other sectors recorded further losses from yesterday’s closing position. The Banking Sector recorded the highest loss at -3.12%, following a price drop in STERLNBANK (9.47%), followed by the Insurance sector which fell by 1.71%. The Oil & Gas and Industrial sectors shed 0.28% and 0.14% respectively.
Despite the market’s positive performance, the market breadth declined from 0.67x to 0.44x. 12 stocks advanced led by JAIZBANK (10.00%) and 27 stocks declined, led by STERLNBANK (-9.47%), thus indicating a negative investor sentiment.
The volume and value of shares traded increased significantly from the previous trading session; with 356.46 million shares worth ₦4.19 billion traded today in 6,130 deals. The volume and value of shares increased by 58.71% and 95.63% respectively.
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
The FGN bond space remained quiet for the most part. Marginal compression in yields was seen in a few instruments such as the FGN-APR-2023, which dropped by 1bps to 6.29%, and the FGN-JUL-2030 which dropped by the same magnitude to 11.16%.
Treasury bill yields remained stable for the 91-day, 180-day, and 365-day securities at 2.43%, 4.34%, and 6.63%.
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