At the end of yesterday’s trading session, the NGX All Share Index benchmark closed in positive territory, increasing further by 0.55% to close at 48,837.76 points.
Yesterday’s performance was due to buying pressures in bellwether stocks such as SEPLAT (+9.09%) and GUINNESS (+5.14%). Consequently, the YTD return increased to 14.33% as market capitalisation rose by ₦143.41 billion to close at ₦26.33 trillion.
The sectoral performance totally strengthened as all of the five indices under coverage advanced. The Oil & Gas index, the biggest gainer, rose by 5.17% on SEPLAT (+9.09%). The Insurance, Banking , Consumer Goods and Industrial indices, followed suit, rising by 1.13%, 0.86%, 0.67% and 0.03% on CUSTODIAN (+8.33%), ZENITHBANK (+1.66%), GUINNESS (+5.14%) and CAP (+9.77%) respectively.
Investors’ sentiment strengthened as the market breadth increased to 1.94x from 0.78x. This was illustrated by the advance of 33 stocks led by CADBURY (+10.00%) and MULTIVERSE (+10.00%) and the decline of 17 stocks, led by CHAMPION (-6.88%) and FTNCOCOA (-5.13%). Activity level strengthened as the total volume and value increased by 207.92% and 138.55% respectively, as investors exchanged about 759.65mn units of shares worth over ₦5.54bn.
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 mixed sentiment across the bond yield curve as two of the four bond yields under coverage compressed while the FGN-JAN-2026 and FGN-JUL-2030 bond paper closed flat. The FGN-APR-2023 and FGN-MAR-2024 bond papers compressed by 133bps and 1bp respectively.
Treasury bill yields for the 91, 182 and 364-day paper closed flat at 3.25%, 3.52% and 4.48% respectively.
We expect market activity to be influenced by the liquidity levels and foreign investors’ participation.
Market Snapshot
- Local Bourse Maintains Positive Streak, NGX ASI Up 55bps
- Mixed Sentiment across the Bond Yield Curve
- Positive Performance Returns in Global Stocks
- Commodities Market Closes in Green
- Positive Performance in African Stocks
