Bullish Sentiment in Equities Market, NSE ASI Up 18bps

Must Read

- Advertisement -

In today’s trading session, the equities market improved by 0.18% to close at 38,482.52 points. The market capitalization increased by the same magnitude to close at  ₦20.06 trillion.

Three of the five sectoral indices under coverage improved. The insurance index, the biggest gainer, strengthened by 0.76%, followed by Industrial goods (0.50%) and Banking (0.03%) indices respectively. On the flip side, Consumer goods (-0.16%) and Oil & Gas indices were the laggers.

Investor sentiment weakened in today’s trading session, as market breadth declined to 0.75x from 1.06x. This was illustrated by the advance of 15 stocks, led by UPL (9.38%) and REGALINS (8.16%), and the decline of 20 stocks, led by CWG (-9.66%) and IKEJA HOTEL (-9.09%).

In terms of activity levels, total volume and value declined by 42.94% and 49.43% compared to the previous, as investors exchanged about a 156.91million units of shares worth over an N1.33billion.

Bullish Sentiment in Equities Market, NSE ASI Up 18bps - Brand SpurFixed Income

- Advertisement -

There was inactivity across the bond yield curve as 3 of the 4 bond yields under coverage remained constant while the 10-Year tenor ( FGN-JUL-2030) declined by 0.27%. FGN-APR-2023, FGN-APR-2024 and FGN-JAN-2026 remained constant at 11.80%, 12.06% and 12.55% respectively.

Treasury bill yields for 90, 180, and 365-day papers closed at 4.63%, 6.13% and 9.56%.

We expect a return to bearish momentum as investors’ sentiment will be swayed by the search for real positive returns and developments in the fixed interest rates.

 Market Snapshot

  • Bullish Sentiment in Equities Market, NSE ASI Up 18bps
  • Inactivity Across Bond Yield Curve as 3 of the 4 tenors remained constant
  • Bullish Sentiment persists in Global Stocks
  • Brent Oil maintains the $70 a barrel but declined marginally against the previous.
  • Parallel Market Exchange Rate Reports at ₦498.00/1$
- Advertisement -
spot_imgspot_img

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.

Latest News

Bullish Sentiment in Equities Market, NSE ASI Up 18bps - Brand Spur

Fans In High Spirit As Gulder Ultimate Search Unveils Contestants On...

After seven years of hiatus, Gulder Ultimate Search will make its much-awaited return to screens with the unveiling of contestants for the 2021 season...
- Advertisement -
spot_imgspot_img

Latest News

Fans In High Spirit As Gulder Ultimate Search Unveils Contestants On Sunday

After seven years of hiatus, Gulder Ultimate Search will make its much-awaited return to screens with the unveiling of...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img