Investors Record N65.82bn Loss, As NSEASI Dips By -0.32%

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At the end of today’s trading session, the Nigerian Equities market closed in red as the benchmark index declined by 0.32% to close at 38,801.51 points.

This was mainly due to sell pressures in bellwether stocks such as ARDOVA (-6.25%) and GTCO (-1.23%). Consequently, the YTD loss worsened to -3.65% as market capitalisation decreased by  ₦64 billion to close at  ₦20.22 trillion.

The Sectoral Performance strengthened as three of the five indices under coverage improved. The Consumer Goods index, the biggest gainer, improved by 0.26% on DANGSUGAR (1.65%). The Insurance and Industrial indices followed suit, rising by 0.25% and 0.04% on CHIPLC (8.93%) and DANGCEM (0.04%) respectively. On the flip side, the Banking and Oil & Gas indices, the losers under coverage, declined by 0.30% and 0.04% on GTCO (-1.23%) and ARDOVA (-6.25%) respectively.

Investor sentiment strengthened in today’s trading session, as market breadth increased to 1.13x from 0.84x . This was illustrated by the advance of 18 stocks, led by  CONOIL (10.00%) and CHIPLC (8.93%), and the decline of 16 stocks, led by ARDOVA (-6.25%) and VERITASKAP (-4.00%).

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Activity level was mixed as total volume declined by 32.24% while the total value increased by 31.67% as investors exchanged about 139.78 million units of shares worth over N1.41 billion respectively.

Investors Record N65.82bn Loss, As NSEASI Dips By -0.32% - Brand Spur

Fixed Income

There was mixed activity across the bond yield curve as two of the four bond yields under coverage closed flat while the yields on FGN-APR-2024 and FGN-JAN-2026 bonds compressed by 1bps and 9bps respectively. The FGN-APR-2023 and FGN-JUL-2030 bond yields closed flat at 10.18% and 12.42% respectively.

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Treasury bill yields for the 90, 180 and 365-day papers compressed by 3bps, 20bps and 12bps to close at 3.66%, 5.56% and 8.48% respectively.

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

MARKET SNAPSHOT

  • Bearish Performance in the Local Bourse, NSE ASI Shed 32bps
  • Mixed Activity across the Bond Yield Curve
  • Bullish Performance in Global Stocks
  • Parallel Market Reports at N508/$
  • Mixed Sentiment in African Stocks
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