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.
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.
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
- Upward Trajectory Persists in the Local Bourse, NGX ASI Gains 19bps
- Quiet Outing across the Bond Yield Curve
- Negative Performance in Global Stocks
- Commodities Market Closed in Green
- Positive Performance in African Stocks
