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.
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%.
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.
- 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.