Bearish Sentiment In Equities Market, NSE ASI Sheds 10bps

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Investors Lose N45.47bn As NGX ASI Decreases By 21bps
Investors Lose N45.47bn As NGX ASI Decreases By 21bps

The equities market closed in red at the end of today’s trading session as the benchmark index declined by 0.10% to close at 38,686.40 points.

The market capitalization decreased by  ₦20.69 billion to close at  ₦20.16 trillion.

Four of the five sectoral indices under coverage weakened. The  Insurance goods index, the biggest loser, declined by 1.91%, followed by Banking (-0.86%), Consumer goods (-0.09%) and Industrial goods (-0.09%) indices respectively. Conversely, the Oil & Gas index was the only gainer, improved by 0.31%.

Investors’ sentiment weakened in today’s trading session, as market breadth decreased to 0.46x from 2.2x. This was illustrated by the advance of 13 stocks, led by  MORISON (9.73%) and CONOIL (9.63%), and the decline of 28 stocks, led by JULI (-9.93%) and CWG (-9.80%). In terms of activity levels, it was mixed as total volume improved by 5.87% while total value declined by 5.66% compared to the previous, as investors exchanged about 210.75million units of shares worth over N1.50billion.

Bearish Sentiment In Equities Market, NSE ASI Sheds 10bps - Brand Spur

Fixed Income

There was inactivity across the bond yield curve as all the 4 bond yields under coverage remained constant. FGN-APR-2023, FGN-APR-2024, FGN-JAN-2026 and FGN-JUL-2030 remained constant at 11.42%, 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 9.49%.

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We expect a return to 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

  • Bearish Sentiment in Equities Market, NSE ASI Sheds 10bps
  • Inactivity Across Bond Yield Curve as all 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.