Negative Performance In Local Bourse , NSE ASI Shed 14bps

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Nigerian Stocks Record Flattish Performance As NGX ASI Remains Unchanged
Nigerian Stocks Record Flattish Performance As NGX ASI Remains Unchanged

The Local Bourse closed in red at the end of today’s trading session as the benchmark index declined by 0.14% to close at 39,156.28 points.

The Market Capitalization decreased by ₦31 billion to close at  ₦20.41 trillion.

The Sectoral Performance marginally strengthened as three of the five indices under coverage improved. The Oil and Gas, the biggest gainer, improved by 0.94%, followed by the Banking (0.05%) and Industrial (0.03%) indices respectively. On the flip side, the Insurance and Consumer Goods indices weakened by 0.56% and 0.15% respectively.

Investor sentiment strengthened in today’s trading session, as market breadth increased to 1.56x from 1.27x. This was illustrated by the advance of 25 stocks, led by  CUTIX (9.88%) and JAIZBANK (9.26%), and the decline of 16 stocks, led by CHAMPION(-10.00%) and NEM (-10.00%). Activity level improved as total volume and value increased by 82.54% and 58.26% respectively as investors exchanged about 289.08million units of shares worth over N3.55billion.

Fixed Income

Activity across the bond yield curve was bullish as 2 of the 4 bond yields under coverage declined, the 5-Year tenor (FGN-JAN-2026) yield increased by 0.24% while the 10-Year tenor (FGN-JUL-2030) remained constant at 13.10%. The FGN-APR-2023 and FGN-APR-2024  yields declined by 0.17% and 0.08% respectively.

Treasury bill yields for the 90, 180 and 365-day papers all increased to close at 4.72%, 6.28% and 9.77%.

We expect bullish momentum to return in the next trading session as the equities market still presents decent opportunities for investors chasing positive real return on investments.

MARKET SNAPSHOT

  • Negative Performance in Local Bourse, NSE ASI Shed 14bps
  • Bullish Sentiment across the Bond Yield Curve as 2 of the 4 Tenor Yields Declined.
  • Mixed Performance in Global Stocks 
  • Parallel Market maintains N502/$.
  • Bullish Sentiment across the Treasury Yield Curve as 2 of the 3 Tenor Yields Declined.