Equities Market Closes on a Positive Note…Inches Up by 0.02%

Must Read

List of First Bank of Nigeria Sort Codes in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

Burger King Announces Grand Entry In To Nigerian Market, Promises First Restaurant In August 2021

Allied Food and Confectionary Services Limited announced exciting plans to launch and grow the Burger King® brand in Nigeria,...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

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%.

Equities Market Closes on a Positive Note...Inches Up by 0.02%

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.

- Advertisement -

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.

Read Also:  Market Contracts to halt 6 Days Consecutive Uptrend...ASI Down by 26bps

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%.

Market Snapshot

  • Equities Market Closes on a Positive Note…Inches Up by 0.02%
  • Mixed Activity Along The Bond Yield Curve
  • US Stocks Fluctuate Ahead of Fed Minutes
  • Oil Prices Under Pressure Following Large Gasoline Build
  • NAFEX Rate Drops Further to ₦408.79/1$
- Advertisement -
Equities Market Closes on a Positive Note...Inches Up by 0.02% - Brand SpurEquities Market Closes on a Positive Note...Inches Up by 0.02% - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Equities Market Closes on a Positive Note...Inches Up by 0.02% - Brand SpurEquities Market Closes on a Positive Note...Inches Up by 0.02% - Brand Spur

Latest News

How The Trump Plaza, Atlantic City, Came to be Demolished

It is not so often nowadays that a building is simply demolished, particularly not one of this scale. We...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Equities Market Closes on a Positive Note...Inches Up by 0.02% - Brand SpurEquities Market Closes on a Positive Note...Inches Up by 0.02% - Brand Spur