The equities market closed in green at the end of today’s trading session as the benchmark index improved by 0.17% to close at 38,548.24 points. The market capitalisation increased by the same magnitude to close at ₦20.09 trillion.
Four of the five sectoral indices under coverage improved. The Consumer goods index, the biggest gainer, strengthened by 0.23%, followed by Insurance (0.06%), Oil & Gas (0.05%) and Industrial goods (0.01%) indices respectively. On the flip side, the Banking index was the only loser, declined by 0.50%.
Investors’ sentiment strengthened in today’s trading session, as market breadth increased to 1.27x from 0.75x. This was illustrated by the advance of 19 stocks, led by UPL (10.00%) and BERGER (9.84%), and the decline of 15 stocks, led by CWG (-9.63%) and UBN (-6.72%). In terms of activity levels, total volume and value improved by 59.13% and 41.35% compared to the previous, as investors exchanged about 249.69million units of shares worth over N1.88billion.
Fixed Income
There was bullish sentiment across the bond yield curve as 3 of the 4 bond yields under coverage declined while the 10-Year tenor ( FGN-JUL-2030) remained constant at 12.94%. FGN-APR-2023, FGN-APR-2024 and FGN-JAN-2026 declined by 0.37%, 0.38% and 0.39% respectively.
Treasury bill yields for 90, 180, and 365-day papers closed at 4.45%, 6.19% and 9.50%.
We expect a bullish momentum in the next trading session as the equities market still presents decent opportunities for investors chasing positive real return on investments.
MARKET SNAPSHOT
- Bullish Sentiment Persists in Local Bourse, NSE ASI Gains 17bps
- Bullish Sentiment Across Bond Yield Curve as 3 of the 4 tenors declined.
- Global Stocks Closed in Red
- Brent Oil Maintains the $70/barrel as it Improved against the Previous.
- Two (90-day and 180-day tenors) of the Three Tenors of Treasury Bill Yields declined.
