Positive Performance Persists In the Local Bourse, As NSE ASI Inches Up by 0.03%

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At the end of today’s trading session, the Nigerian Equities market closed in the green as the benchmark index improved by 0.03% to close at 38,917.99 points.

This was mainly due to buying pressures in bellwether stocks such as PRESCO (3.71%) and CUTIX (10.00%). Consequently, the YTD loss improved to -3.33% as market capitalization increased by  ₦2 billion to close at  ₦20.28 trillion.

The Sectoral Performance weakened as three of the five indices under coverage declined. The Oil & Gas index, the biggest loser, declined by 0.63% on OANDO (-3.35%). The Insurance and Consumer Goods indices followed suit, falling by 0.18% and 0.04% on REGALINS (-6.67%) and GUINNESS (-0.94%) respectively. On the flip side, the Banking and Industrial indices, the gainers under coverage, improved by 0.56% and 0.04% on ACCESS (2.22%) and WAPCO (0.46%) respectively.

Investor sentiment strengthened in today’s trading session, as market breadth increased to 0.84x from 0.46x . This was illustrated by the advance of 16 stocks, led by  CUTIX (10.00%) and VERITASKAP (8.70%), and the decline of 19 stocks, led by SOVRENINS (-7.14%) and REGALINS (-6.67%). Activity level weakened as total volume and value declined by 10.87% and 49.77% as investors exchanged about 206.29 million units of shares worth over N1.07 billion respectively.

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Positive Performance Persists In the Local Bourse, As NSE ASI Inches Up by 0.03% - Brand Spur

Fixed Income

There was relatively quiet activity across the bond yield curve as three of the four bond yields under coverage closed flat while the yield on FGN-APR-2023 bond compressed by 1bps. The FGN-APR-2024, FGN-JAN-2026 and FGN-JUL-2030 bond yields closed flat at 10.84%, 11.79% and 12.42% respectively.

Treasury bill yields for the 90 and 180-day papers closed flat at 3.66% and 5.56% respectively while the 365-day paper compressed by 17bps to close at 8.48%.

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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 3bps
  • Quiet Activity across the Bond Yield Curve
  • Mixed Performance in Global Stocks
  • Parallel Market Reports at N506/$
  • Bullish Sentiment in African Stocks
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