At the end of today’s trading session, the equities market closed in the green as the benchmark index improved by 0.15% to close at 38,564.70 points.
This was mainly due to the buying pressure in bellwether stocks such as SEPLAT (1.45%) and ACCESS (0.59%).
Consequently, the YTD loss improved to -4.24% as market capitalisation increased by ₦29 billion to close at ₦20.10 trillion.
The Sectoral Performance weakened as three of the five indices under coverage declined. The Insurance index, the biggest loser, worsened by 0.51%, followed by the Banking (-0.32%) and Industrial (-0.03%) indices respectively. Conversely, the Oil & Gas and Consumer Goods indices were the gainers, improved by 0.92% and 0.18% respectively.
Investor sentiment strengthened in today’s trading session, as market breadth improved to 1.29x from 0.69x. This was illustrated by the advance of 27 stocks, led by CORNERST (10.00%) and MORISON (9.68%), and the decline of 21 stocks, led by ABBEYBDS (-0.95%) and CHIPLC (-9.46%). Activity level was mixed as total volume increased by 1.81% while the total value declined by 23.01% as investors exchanged about 302.72million units of shares worth over N2.81billion respectively.
Fixed Income
There was inactivity across the bond yield curve as all the 4 bond yields under coverage closed flat. FGN-APR-2023, FGN-APR-2024, FGN-JAN-2026 and FGN-JUL-2030 yields closed flat at 11.23%, 11.64%, 12.40% and 13.15% 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
- Positive Performance Returns in Local Bourse, NSE ASI Gains 15bps
- Inactivity across the Bond Yield Curve as all Tenors under Coverage closed Flat.
- Mixed Performance in Global Stocks
- Bullish Performance in Commodities Market
- Bullish Sentiment in African Stocks
