Investors Gain N28.26bn as NSE ASI Inches Up Further by 0.13% today

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The equities market closed positive at the end of today’s trading session as the benchmark index improved by 0.13% to close at 38,615.11 points. This was mainly due to the buy pressure in bellwether stocks such as GUARANTY (1.78%) and NB (1.2%).

Consequently, the YTD loss improved to -4.11% as market capitalization increased by  ₦26 billion to close at  ₦20.13 trillion. The Sectoral Performance strengthened as three of the five indices under coverage improved, one declined while the Oil & Gas closed flat at 314.21 points.

The Insurance index, the biggest gainer, improved by 1.01%, followed by the Banking (0.81%) and Consumer Goods (0.18%) indices respectively.

On the flip side, the Industrial index was the only loser under coverage, weakened by (-0.02%).

Investor sentiment strengthened in today’s trading session, as market breadth improved to 2.25x from 1.29x. This was illustrated by the advance of 18 stocks, led by  CHAMPION (10.00%) and WAPIC (9.43%), and the decline of 8 stocks, led by CHIPLC (-8.96%) and UNITYBNK (-3.51%).

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Activity level weakened as total volume and value decreased by 47.00% and 50.36% as investors exchanged about a 160.44million units of shares worth over N1.40billion respectively.

Investors

Fixed Income

There was mixed sentiment across the bond yield curve as 2 of the 4 bond yields under coverage increased while the FGN-APR-2023 and FGN-JUL-2030 closed flat at 11.72% and 12.52% respectively. The FGN-APR-2024 and FGN-JAN-2026 tenor yields increased by 0.06% and 0.12% respectively.

Treasury bill yields for the 90, 180 and 365-day papers closed at 4.71%, 6.28% and 9.76%.

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 Local Bourse, NSE ASI Gains 13bps
  • Mixed Sentiment across the Bond Yield Curve
  • Negative Performance in Global Stocks as 4 of the 6 under Coverage Declined 
  • Bearish Performance in Commodities Market
  • Bullish Sentiment in African Stocks
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