Positive Sentiment Returns To Market As the NSE ASI Gains 1.24%

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In contrast to yesterday’s -1.33% loss, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) gained 1.24%, growing from 38,261.61 to 38,781.48.

The market capitalization also grew from ₦20.30 to ₦20.50 trillion. Year-to-date, the market has lost 2.51%.

Two sectors gained and two sectors lost in today’s market. The Industrial sector saw the largest gain of 3.58%, followed by the Insurance sector which gained 1.61%. The Banking and Consumer Goods sectors fell by -1.35% and -0.22%. However, the Oil & Gas sector’s index remained unchanged.

Investor sentiment was stronger in today’s trading session as the market breadth of 1.40x indicates, showing an increase from the previous day’s market breadth of 0.83x.

This was illustrated by the advance of 21 stocks, led by FIDSON (10.00%), and JBERGER (10.00%), and the decline of 16 stocks, led by CWG (-9.84%) and MBENEFIT (-7.50%); in contrast to the previous trading session where 19 stocks advanced in price while 23 stocks declined.

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However, the volume and value of shares traded in the market fell from 259.51 million and ₦1.91 billion to 223.04 million and ₦1.73 billion respectively.

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Positive Sentiment Returns To Market As the NSE ASI Gains 1.24% - Brand Spur

Fixed Income

Movement in the FGN Bond space was mixed as the FGN-APR-2023 bond yield remained stable at 10.53%, the FGN-JAN-2026 bond yield rose from 11.89% to 12.36% and the FGN-JUL-2030 bond yield fell from 12.64% to 12.46%.

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Treasury bill yields for the 91-day, 180-day, and 365-day securities remained stable at 3.05%, 4.21%, and 8.05%.

Market Snapshot

  • Positive Sentiment Returns to Market As the NSE ASI Gains 1.24%
  • Mixed Performance Across the Yield Curve
  • Stocks Erase Gains After Touching Record on GDP
  • Oil Climbs With U.S. Demand Bump Driving Global Rebound Optimism
  • Parallel Market Exchange Rate Reports at ₦485.00/1$
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