Upward Trajectory Persists In The Local Bourse

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Negative Performance Returns In The Domestic Bourse
Negative Performance Returns In The Domestic Bourse

At the end of today’s trading session, the Nigerian equities market closed in green as the benchmark index improved by 0.19% to close at 47,482.73 points.

Today`s performance was due to buying pressures in bellwether stocks such as SEPLAT (+9.99%) and MTNN (+1.00%). Consequently, the YTD return advanced to 11.16% as market capitalisation increased by ₦47.54 billion to close at  ₦25.59 trillion.

The sectoral performance significantly weakened as four of the five indices under coverage declined while the Oil and Gas Index, the only gainer, improved by 5.36% on SEPLAT (+9.99%).  The Insurance index, the biggest loser, declined by 1.32% on MANSARD (-1.67%). The Banking, Industrial and Consumer Goods Indices followed suit, decreasing by 0.75%, 0.27%, and 0.17% on ETI (-4.18%), WAPCO (-3.53%), and DANGSUGAR (-0.59%) respectively.

Investors’ sentiment weakened as the market breadth decreased to 0.44x from 1.53x. This was illustrated by the decline of 34 stocks, led by CUTIX (-10.00%) and LEARNAFRCA (-9.96%) and the advance of 15 stocks, led by SEPLAT (+9.99%) and ROYALEX (+9.49%). Activity level strengthened as the total volume and value increased by 23.20% and 183.41% respectively as investors exchanged about 370.54 million units of shares worth over ₦7.85 billion.

Upward Trajectory Persists In The Local Bourse - Brand Spur

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 a quiet outing across the bond yield curve as all the four bond yields under coverage closed flat.

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Treasury bill yields for the 91 and 182-day paper closed flat at 3.21% and 3.56% respectively while the 364-day paper compressed by 1bp to close at 5.07%

We expect market activity to be influenced by the liquidity levels and foreign investors’ participation.

MARKET SNAPSHOT