At the end of today’s trading session, the Nigerian equities market closed in red as the benchmark index declined by 0.02% to close at 47,353.22 points.
Today’s performance was due to selloffs in large-cap stocks such as SEPLAT (-3.13%) and NB (-1.98%). Consequently, the YTD return decreased to 10.85% as market capitalisation fell by ₦6.06 billion to close at ₦25.52 trillion.
The sectoral performance was mixed as two of the five indices under coverage improved while the Industrial index closed flat. The Oil and Gas and Consumer Goods Indices, the losers, decreased by 1.76% and 0.45% on SEPLAT (-3.31%) and NB (-1.98%).On the flip side, both the Insurance and Banking indices improved by 0.08% and 0.01% on REGALINS (+2.63) and ZENITHBANK (+0.19%) respectively.
Investors’ sentiment strengthened as the market breadth increased to 1.19x from 1.06x. This was illustrated by the advance of 19 stocks, led by UACN (+10.00%) and ROYALEX (+9.80%) and the decline of 16 stocks, led by NIGERINS (-9.09%) and CORNERST (-6.45%). Activity level was strengthened as the total volume and value increased by 64.39% and 53.51% respectively as investors exchanged about 239.73mn units of shares worth over ₦3.89bn.
We expect positive sentiment to return 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 mixed sentiment across the bond yield curve as two of the four bond yields under coverage closed lower, the yield on the FGN-JAN-2026 closed flat while the yield on the FGN-JUL-2030 increased by 34bps. The yields on the FGN-APR-2023 and FGN-MAR-2024 compressed by 33bps and 1bp respectively.
Treasury bill yields for the 91, 182 and 364-days paper closed flat at 1.88%, 3.54% and 4.02% respectively.
We expect market activity to be influenced by the liquidity levels and foreign investors’ participation.
MARKET SNAPSHOT
- Negative Performance Returns in the Domestic Bourse, NGX ASI Sheds 2bps
- Mixed Sentiment across the Bond Yield Curve
- Mixed Performance in Global Stocks
- Commodities Market Closes in Green
- Mixed Performance in African Stocks
