The Local Bourse closed positive at the end of today’s trading session as the benchmark index improved by 0.09% to close at 38,648.91 points. This was mainly due to the buy pressure in bellwether stocks such as ACCESS (0.59%) and FLOURMILL (1.02%). Consequently, the YTD loss improved to -4.03% as market capitalization increased by ₦13 billion to close at ₦20.14 trillion.
The Sectoral Performance strengthened as three of the five indices under coverage improved, one declined while the Industrial closed flat at 1,951.41 points. The Banking index, the biggest gainer, improved by 0.44%, followed by the Oil & Gas (0.08%) and Consumer Goods (0.07%) indices respectively. On the flip side, the Insurance index was the only loser under coverage, weakened by (-0.15%).
Investor sentiment weakened in today’s trading session, as market breadth declined to 1.70x from 2.25x. This was illustrated by the advance of 17 stocks, led by CHIPLC (9.84%) and REGALINS (8.70%), and the decline of 10 stocks, led by MBENEFIT (-8.16%) and COURTVILLE (-4.76%).
Activity level strengthened as total volume and value increased by 37.52% and 80.64% as investors exchanged about a 220.64million units of shares worth over a N2.53billion respectively.
There was bearish sentiment across the bond yield curve as 2 of the 4 bond yields under coverage increased, FGN-JUL-2030 yield fell by 0.64% while FGN-JAN-2026 closed flat at 12.52%. The FGN-APR-2023 and FGN-APR-2024 tenor yields increased by 0.28% and 0.16% respectively.
Treasury bill yields for the 90, 180, and 365-day papers closed at 4.85%, 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.
- Positive Performance Persists in the Equities Market, NSE ASI Gains 9bps
- Bearish Sentiment across the Bond Yield Curve
- Negative Performance in Global Stocks as all Indices under Coverage Declined
- Parallel Market Reports at N498
- Bullish Sentiment in African Stocks