At the end of yesterday’s trading session, the Nigerian equities market closed positive as the benchmark index improved by 0.12% to close at 47,328.42 points. Yesterday`s performance was due to buy pressures in bellwether stocks such as MTNN (+0.50%) and FLOURMILL (+0.63%).
Consequently, the YTD return advanced to 10.80% as market capitalisation increased by ₦30.38 billion to close at ₦25.50 trillion.
The sectoral performance was mixed as two of the five indices under coverage improved, two declined while the Oil and Gas Index closed flat. The Banking and Consumer goods indices, the gainers, improved by 0.25% and 0.15% on STANBIC (+0.29%) and FLOURMILL (+0.63%). Conversely, the Insurance and Industrial indices, the losers, declined by 0.79% and 0.02% on NEM (-5.00%) and CUTIX (-8.47%) respectively.
Investors sentiment weakened but positive as the market breadth decreased to 1.24x from 1.39x. This was illustrated by the advance of 21 stocks, led by ETRANZACT (+9.92%) and ROYALEX (+9.65%) and the decline of 17 stocks, led by CUTIX (-8.47%) and NEM (-5.00%). Activity level weakened as the total volume and value declined by 25.64% and 28.60% as investors exchanged about 253.31 million units of shares worth over ₦2.75 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.
Fixed Income
There was bullish sentiment across the bond yield curve as three of the four bond yields under coverage closed lower while the yield on the FGN-JAN-2026 closed flat. The yields on the FGN-APR-2023, FGN-MAR-2024 and FGN-JUL-2030 compressed by 2bps, 1bp and 44bps respectively.
Treasury bill yields for the 91, 182 and 364-day paper yields closed flat at 3.15%, 3.56% and 5.07% respectively.
We expect market activity to be influenced by the liquidity levels and foreign investors’ participation.
MARKET SNAPSHOT
- Local Bourse Closes the Week in Green, NGX ASI Gains 12bps
- Bullish Sentiment across the Bond Yield Curve
- Positive Performance in Global Stocks
- Commodity Market Closed in Red
- Positive Performance in African Stocks
