Positive Performance Returns In The Local Bourse, NGX ASI Gains 45bps

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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 0.45% to close 40,896.96 points.

This was mainly due to buy pressures in bellwether stocks such as DANGSUGAR (+1.15%) and FBNH (+9.79%). Consequently, the YTD return improved to 1.56% as market capitalization increased by ₦95.46 billion to close at  ₦21.31 trillion.

The sectoral performance significantly strengthened as four of the five indices under coverage improved, while the Oil & Gas index declined by 0.71% on OANDO (-3.46%). The Insurance index, the biggest gainer, improved by 1.02% on CORNERST (+9.80%). The Banking, Industrial and Consumer Goods indices followed suit, rising by 1.00%, 0.51% and 0.06% on FBNH (+9.79%), BUACEMENT (+1.79%) and DANGSUGAR (+1.15%).

Investor sentiment strengthened in today’s trading session, as market breadth increased to 2.08x from 1.00x. This was illustrated by the advance of 27 stocks, led by CHAMPION (+10.00%) and CORNERST (+9.80%) and the decline of 13 stocks, led by CHIPLC (-6.78%) and JAPAULGOLD (-6.25%). Activity level strengthened as total volume and value increased by 194.74% and 96.72% as investors exchanged about 563.88 million units of shares worth over N5.10 billion.

Positive Performance Returns In The Local Bourse, NGX ASI Gains 45bps - Brand Spur

We expect bullish momentum to persist in the next trading session as the equities market still presents decent opportunities for investors chasing positive real return on investments.

 Fixed Income

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There was relatively bullish sentiment across the bond yield curve as 3 of the 4 bond yields under coverage closed lower while the yield on FGN-JAN-2026 closed flat at 10.70%. The yields on the FGN-APR-2023, FGN-APR-2024 and FGN-JUL-2030 compressed by 2bps, 1bp and 1bp respectively.

Treasury bill yields for the 91, 182, 364-day papers closed flat at 3.37%, 4.10% and 6.98% respectively.

We expect a further decline in yields in the next trading session on the back of huge demand from investors and the deliberate efforts of the  DMO to reduce borrowing costs.

 MARKET SNAPSHOT

  • Positive Performance Returns in the Local Bourse, NGX ASI Gains 45bps
  • Bullish Sentiment across the Bond Yield Curve
  • Bearish Performance in Global Stocks
  • Negative Performance in the Commodities Market
  • Bullish Sentiment in African Stocks