Positive Performance Returns In the Local Bourse, NSE ASI Gains 40bps

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The Nigerian Equities market closed in bullish form at the end of today’s trading session as the benchmark index improved by 0.40% to close at 37,954.35 points.

This was mainly due to the buy pressure in bellwether stocks such as ETERNA (3.92%) and FBNH (1.41%). Consequently, the YTD loss improved to -5.75% as market capitalization increased by  ₦81 billion to close at  ₦19.78 trillion.

The Sectoral Performance strengthened as four of the five indices under coverage improved. The Industrial index, the biggest gainer, increased by 0.88%, followed by the Banking (0.61%),  Oil & Gas (0.33%) and Consumer Goods (0.20%) indices respectively. On the flip side, the Insurance index which was the only loser under coverage, declined by 0.30%.

Investor sentiment strengthened in today’s trading session, as market breadth improved to 1.43x from 0.48x. This was illustrated by the advance of 20 stocks, led by  PORTPAINT (10.00%) and MBENEFIT (10.00%), and the decline of 14 stocks, led by JULI (-9.56%) and AIICO  (-7.41%). Activity level was mixed as total volume declined by 19.65% while the total value increased by 14.35% as investors exchanged about 167.41million units of shares worth over N1.83billion respectively.

Positive Performance Returns In the Local Bourse, NSE ASI Gains 40bps - Brand Spur

Fixed Income

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The activity level was mixed across the bond yield curve as two of the four bond yields under coverage closed in bearish form while the FGN-APR-2023 and FGN-JUL-2030  yields closed flat at 11.50% and 12.47% respectively. The FGN-APR-2024 and FGN-JAN-2026 bond yields increased by 0.02% and 0.08% respectively.

Treasury bill yields for the 90, 180 and 365-day papers closed at 4.85%, 6.27% and 9.74% respectively.

We expect investor sentiment to be swayed by the search for real positive returns and developments in the fixed income space.

MARKET SNAPSHOT

  • Positive Performance  Returns in the Local Bourse, NSE ASI Gains 40bps
  • Mixed Activity Level across the Bond Yield Curve
  • Upward Trend in Global Stocks
  • Negative Performance in the Commodities Market
  • Bullish Sentiment in African Stocks
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