Bullish Sentiment Persists In The Local Bourse, NSE ASI Gains 74bps

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At the end of today’s trading session, the equities market maintains its bullish form as the benchmark index improves by 0.74% to close at 39,170.95 points.

The market capitalization increased by  ₦147 billion to close at  ₦20.42 trillion.

All the five sectoral indices under coverage improved. The Industrial goods index, the biggest gainer, improved by 1.33%, followed by the Banking (1.25%), Insurance (0.37%), Consumer goods (0.28%) and Oil & Gas (0.03%) indices respectively.

Investor sentiment improved in today’s trading session, as market breadth increased to 4.17x from 0.88x. This was illustrated by the advance of 25 stocks, led by  CUTIX (10.00%) and OKOMUOIL (9.75%), and the decline of 6 stocks, led by SOVRENINS (-3.57%) and JAIZBANK (-3.39%).

Activity level was mixed as total volume declined by 16.93% while total value improved by 148.99% compared to their previous figures respectively, as investors exchanged about 181.53million units of shares worth over N3.96billion.

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Bullish Sentiment Persists In The Local Bourse, NSE ASI Gains 74bps - Brand Spur

Fixed Income

Activity across the bond yield curve was relatively low as 3 of the 4 bond yields under coverage remained flat while 2-Year tenor (FGN-APR-2023) declined by 0.01%. FGN-APR-2024, FGN-JAN-2026 and FGN-JUL-2030 remained constant at 11.74%, 12.16% and 12.94% respectively.

Read Also:  NSE Calls for the Acceleration of Gender Equality (Pictures)

Treasury bill yields for 90, 180, and 365-day papers closed at 4.44%, 6.19% and 9.48%.

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We expect bullish momentum to persist 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 the Local Bourse, NSE ASI Gains 74bps
  • Relatively Low Activity across the Bond Yield Curve as 3 of 4 Yields remained flat
  • Bearish Sentiment in Global Stocks  as 4 of the 6 Indices under Coverage declined.
  • Parallel Market Exchange Rate still Reports at N502.00/$
  • Two of the Three Tenors of Treasury Yields remained constant
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