At the end of yesterday’s trading session, the Nigerian equities market closed positive as the benchmark index improved by 0.14% to close at 47,272.04 points.
Yesterday`s performance was due to buy pressures in bellwether stocks such as SEPLAT (+7.49%) and NGXGROUP (+7.17%). Consequently, the YTD return advanced to 10.66% as market capitalisation increased by ₦34.94 billion to close at ₦25.48 trillion.
The sectoral performance was mixed as two of the five indices under coverage declined, two improved while the Industrial Index closed flat. The Consumer goods and Banking indices, the losers, declined by 0.61% and 0.27% on FLOURMILL (-3.64%) and UBN (-1.56%). Conversely, the Insurance and Oil and Gas indices, the gainers, improved by 1.01% and 3.85% on ROYALEX (+9.62%) and SEPLAT (+7.49%) respectively.
Investors sentiment weakened as the market breadth decreased to 1.39x from 1.63x. This was illustrated by the advance of 25 stocks, led by ETRANZACT (+10.00%) and LEARNAFRICA (+9.92%) and the decline of 18 stocks, led by MULTIVERSE (-8.00%) and JAPAULGOLD (-5.00%). Activity level strengthened as the total volume and value increased by 34.94% and 10.43% as investors exchanged about 340.67 million units of shares worth over ₦3.86 billion.
We expect positive sentiment to persist in the next trading session as the equities market still presents decent opportunities for investors chasing positive real returns on investments.
There was mixed sentiment across the bond yield curve as two of the four bond yields under coverage closed lower, the yields on the FGN-JAN-2026 and FGN-JUL-2030 closed flat. Both yields on the FGN-APR-2023 and FGN-MAR-2024 compressed by 1bp.
Treasury bill yields for the 91 and 182-day paper yields closed flat at 3.15% and 3.56% respectively while the 364-day paper yield increased by 88bps to close at 5.07%.
We expect market activity to be influenced by the liquidity levels and foreign investors’ participation.
- Positive Sentiment Returns in the Local Bourse, NGX ASI Gains 14bps
- Mixed Sentiment across the Bond Yield Curve
- Negative Performance in Global Stocks
- Commodity Market Closed in Green
- Negative Performance in African Stocks