At the end of yesterday’s trading session, the Nigerian All Share Index closed in the green as the benchmark index advanced by 1.25% to close at 48,138.71 points.
Yesterday ‘s performance was due to buying interest in large-cap stocks such as SEPLAT (+4.57%) and OKOMUOIL (+2.60%). Consequently, the YTD return increased to 12.69% as market capitalisation rose by ₦319.609 billion to close at ₦25.95 trillion
The sectoral performance was positive as three of the five indices under coverage advanced. The Oil & Gas index, the biggest gainer, advanced by 2.98% on OANDO (+0.77%). Both Consumer Goods and Industrial indices, followed suit, increasing by 2.06% and 0.98% on GUINNESS (+9.96%) and DANGCEM (+1.93%) respectively. Conversely, the Banking and Insurance indices, declined by 2.45% and 0.26% on ZENITHBANK (-3.42%) and CORNERST (-6.67%) respectively.
Investors’ sentiment strengthened as the market breadth increased to 1.18x from 0.68x. This was illustrated by the advance of 26 stocks led by ETERNA (+10.00%) and JAPAUALGOLD (+10.00%) and the decline of 22 stocks, led by UNIONDICON (-9.60%) and CWG (-9.28%). Activity level was negative as the total volume and value decreased by 4.35% and 47.94% as investors exchanged about 349.56mn units of shares worth over ₦3.70bn.
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 closed flat. The FGN-APR-2023, FGN-MAR-2024 and FGN-JUL-2030 bond papers yields declined by 2bps, 1bp and 1bp respectively.
Treasury bill yields for the 91, 182 and 364-day paper inched up by 137bps, 48bps and 28bps to close at 3.25%, 3.64% and 4.48% respectively.
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We expect market activity to be influenced by the liquidity levels and foreign investors’ participation.
MARKET SNAPSHOT
- Positive Performance Persist in the Domestic Bourse, NGX ASI Gains 125bps
- Bullish Sentiment across the Bond Yield Curve
- Positive Performance in Global Stocks
- Brent Crude Report at $107.97/barrel
- Mixed Performance in African Stocks
