The Nigerian Equities market closed in bullish form at the end of today’s trading session as the benchmark index improved by 0.47% to close at 38,849.08 points.
This was mainly due to the buy pressures in bellwether stocks such as ARDOVA (9.75%) and OANDO (9.82%). Consequently, the YTD loss improved to -3.53% as market capitalization increased by ₦91 billion to close at ₦20.24 trillion.
The Sectoral Performance strengthened as four of the five indices under coverage improved. The Oil & Gas index, the biggest gainer, rose by 2.24% on ARDOVA (+9.75%).
The Industrial, Banking and Consumer Goods indices, followed suit, improved by 0.30% (JBERGER +7.88%), 0.26% (ETI +3.92%) and 0.23% (FLOUR MILL +3.02%) respectively. Conversely, the Insurance index, the only loser under coverage, declined by 0.42% on LINKASSURE (-7.14%).
Investor sentiment strengthened in today’s trading session, as market breadth improved to 1.81x from 2.73x. This was illustrated by the advance of 29 stocks, led by OANDO (9.82%) and FTNCOCOA (9.76%), and the decline of 16 stocks, led by UNIVINSURE (-9.09%) and LINKASSURE (-7.14%).
Activity level was mixed as total volume improved by 7.08% while the total value declined by 2.90% as investors exchanged about 246.56 million units of shares worth over N2.24 billion respectively.
There was mixed sentiment across the bond yield curve as two of the four bond yields under coverage increased, the FGN-APR-2023 compressed by 15bps while the FGN-JAN-2026 closed flat at 11.85%. The FGN-APR-2024 and FGN-JUL-2030 yields closed higher by 5bps and 1bps respectively.
Treasury bill yields for the 90, 180 and 365-day papers closed at 5.56%, 5.22% and 8.86% respectively.
We expect bullish momentum to persist in the next trading session as the equities market still presents decent opportunities for investors chasing positive real returns on investments.
- Local Bourse Opens the Week in Green, NSE ASI Up 47bps
- Mixed Sentiment across the Bond Yield Curve
- Bullish Performance in Global Stocks
- Parallel Market Reports at N503/$
- Mixed Performance in African Stocks