The equities market closed in bullish form at the end of today’s trading session as the benchmark index improved by 0.46% to close at 38,726.10 points.
The market capitalization increased by ₦95 billion to close at ₦20.18 trillion.
Four of the five sectoral indices under coverage improved. The Industrial goods index, the biggest gainer, strengthened by 1.00%, followed by Banking (0.33%), Oil & Gas (0.06%) and Consumer goods (0.04%) indices respectively. Conversely, the Insurance index was the only loser, declined by 0.56%.
Investors’ sentiment strengthened in today’s trading session, as market breadth increased to 2.2x from 1.27x. This was illustrated by the advance of 22 stocks, led by MORISON (9.71%) and VERITASKAP (9.09%), and the decline of 10 stocks, led by CWG (-9.47%) and REGALINS (-9.09%).
In terms of activity levels, total volume and value declined by 20.28% and 15.43% compared to the previous, as investors exchanged about a 199.06million units of shares worth over a N1.59billion.
Fixed Income
There was inactivity across the bond yield curve as 3 of the 4 bond yields under coverage remained constant while the 2-Year tenor ( FGN-APR-2023) marginally declined by 0.01%. FGN-APR-2024, FGN-JAN-2026 and FGN-JUL-2030 remained constant at 11.68%, 12.16% and 12.94% respectively.
Treasury bill yields for 90, 180, and 365-day papers closed at 4.44%, 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
- Northward Direction Persists in Local Bourse, NSE ASI Up 46bps
- Inactivity Across Bond Yield Curve as 3 of the 4 tenors remained constant.
- Mixed Sentiment in Global Stocks
- Parallel Market Exchange Rate Reports at N502.00/$
- Two of the Three Tenors of Treasury Yields remained constant.
