At the end of today’s trading session, the Nigerian Equities market closed positive as the benchmark index improved by 0.15% to close at 37,640.75 points.
This was mainly due to the buying pressure in bellwether stocks such as DANGSUGAR (4.17%) and NB (0.25%). Consequently, the YTD loss improved to -6.53% as market capitalization increased by ₦31 billion to close at ₦19.62 trillion.
The Sectoral Performance strengthened as three of the five indices under coverage improved, Oil and Gas index weakened by 0.86% while the Industrial index closed flat. The Insurance, Consumer Goods and Banking indices improved by 2.22%, 0.29% and 0.25% respectively.
Investor sentiment strengthened in today’s trading session, as market breadth improved to 2.15x from 0.72x. This was illustrated by the advance of 28 stocks, led by LINKASSURE (10.00%) and IKEJAHOTEL (10.00%), and the decline of 13 stocks, led by JAIZBANK (-5.17%) and VERITASKAP (-4.00%). Activity level was mixed as total volume improved by 40.07% while the total value declined by 20.64% as investors exchanged about 229.01 million units of shares worth over N2.73 billion respectively.
Fixed Income
The activity level was mixed across the bond yield curve as two of the four bond yields under coverage closed flat, the FGN-APR-2024 yield closed lower by 0.50% while the FGN-JUL-2030 yield closed higher by 0.80%. The FGN-APR-2023 and FGN-JAN-2026 bond yields closed flat at 11.49% and 12.60% respectively.
Treasury bill yields for the 90, 180, and 365-day papers closed at 4.79%, 5.93% and 9.96% respectively.
We expect investor sentiment to be swayed by the search for real positive returns and developments in the fixed income space.
MARKET SNAPSHOT
- Bullish Sentiment Returns in the Local Bourse, NSE ASI Gains 15bps
- Mixed Activity Level across the Bond Yield Curve
- Positive Performance in Global Stocks
- Parallel Market still Reports at N502/$
- Mixed Sentiment in African Stocks
