At the end of today’s trading session, the Nigerian Equities market closed in the green as the benchmark index improved by 0.71% to close at 37,907.28 points.
This was mainly due to the buy pressure in bellwether stocks such as NESTLE (10.00%) and MTNN (0.61%). Consequently, the YTD loss improved to -5.87% as market capitalisation increased by ₦140 billion to close at ₦19.76 trillion.
The Sectoral Performance strengthened as four of the five indices under coverage improved. The Insurance index, the biggest gainer, rose by 1.30%. The Consumer Goods, Oil & Gas and Banking indices, followed suit, improved by 0.77%, 0.74% and 0.02% respectively. On the flip side, the Industrial index, the only loser under coverage, declined by 0.93%.
Investor sentiment weakened in today’s trading session, as market breadth declined to 1.25x from 2.15x. This was illustrated by the advance of 20 stocks, led by NESTLE (10.00%) and IKEJAHOTEL (9.92%), and the decline of 16 stocks, led by BOCGAS (-10.00%) and SOVRENINS (-7.14%). Activity level was mixed as total volume declined by 6.68% while the total value improved by 18.37% as investors exchanged about 213.70 million units of shares worth over N3.23 billion respectively.
Fixed Income
There was quiet activity level across the bond yield curve as all the four bond yields under coverage closed flat. The FGN-APR-2023, FGN-APR-2024, FGN-JAN-2026 and FGN-JUL-2030 yields closed at 11.49%, 11.38%, 12.60% and 12.70% respectively.
Treasury bill yields for the 90, 180 and 365-day papers closed at 4.79%, 5.92% and 10.01% 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 Persists in the Local Bourse, NSE ASI Gains 71bps
- Quiet Activity Level across the Bond Yield Curve
- Bearish Performance in Global Stocks
- Parallel Market Reports at N503/$
- Bullish Sentiment in African Stocks
