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.