At the end of yesterday’s trading session, the Nigerian All Share Index closed in green as the benchmark index advanced by 0.30% to close at 47,510.38 points.
Yesterday’s performance was due to buying pressures in large-cap stocks such as DANGCEM (+2.38%) and NB (+2.74%). Consequently, the YTD return increased to 11.22% as market capitalisation rose by ₦77.13 billion to close at ₦25.61 trillion.
The sectoral performance was mixed as two of the five indices under coverage improved, two declined while the Oil & Gas index closed flat. The Insurance and Industrial indices, the gainers, rose by 1.32% and 1.23% on NEM (+1.76%) and DANGCEM (+2.38%) respectively. Conversely, the Banking and Consumer Goods indices, the losers, inched lower by 0.65% and 0.11% on UBN (-4.25%) and DANGSUGAR (-5.09%) respectively.
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Investors’ sentiment weakened as the market breadth decreased to 1.31x from 1.94x. This was illustrated by the decline of 16 stocks led by DANGSUGAR (-5.09%) and RTBRISCOE (-5.00%) and the advance of 21 stocks, led by SFSREIT (+10.00%) and MEYER (+7.38%). Activity level weakened as the total volume and value decreased by 1.71% and 57.89% respectively as investors exchanged about 385.18mn units of shares worth over ₦4.02bn.
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 compressed while the FGN-JAN-2026 bond paper yield inched higher by 7bps. The FGN-APR-2023, FGN-MAR-2024 and FGN-JUL-2030 bond papers yields declined by 2bps, 1bp and 3bps respectively.
Treasury bill yields for the 91-day paper closed flat at 1.88% while the yields on the 182 and 364-day papers inched up by 4bps and 17bps to close at 3.04% and 4.37% respectively.
We expect market activity to be influenced by the liquidity levels and foreign investors’ participation.
MARKET SNAPSHOT
- Local Bourse Closes the Week in Positive Territory, NGX ASI Gains 30bps
- Bullish Sentiment across the Bond Yield Curve
- Positive Performance in Global Stocks
- Commodities Market Closes in Red
- Mixed Performance in African Stocks
