Domestic Bourse Closes The Week In Red After The 4-day Losses, NGX ASI Sheds 121bps

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NGX Launches Exchange Traded Derivatives Market Excitement
NGX Launches Exchange Traded Derivatives Market Excitement

The Nigerian All Share Index closed negative at the end of today’s trading session, declining by 1.21% to close at 51,778.08 points. Today’s performance was due to profit-taking in bellwether stocks such as MTNN (-5.37%) and ARDOVA (-9.70%).

Consequently, the YTD return decreased to 21.21% as market capitalisation declined by ₦341.26 billion to close at ₦27.91 trillion.

The sectoral performance totally weakened as all the five indices under coverage declined. The Banking index, the biggest loser, fell by 0.83% on CONOIL (-10.00%). The Consumer Goods, Oil & Gas, Insurance and Industrial indices, followed suit, falling by 0.64%, 0.58%, 0.24% and 0.01% on INTBREW (-9.42%), ARDOVA (-9.70%), NEM (-3.90%) and CUTIX (-3.60%) respectively.

Investors’ sentiment weakened as the market breadth declined to 0.42x from 0.57x. This was illustrated by the decline of 24 stocks, led by MCNICHOLS (-9.76%) and ARDOVA (-9.70%) and the advance of 10 stocks, led by ELLAHLAKES (+8.40%) and UACN (+6.48%). Activity level strengthened as the total volume and value increased by 13.98% and 54.96% respectively, as investors exchanged about 241.19mn units of shares worth over ₦3.67bn.

Domestic Bourse Closes The Week In Red After The 4-day Losses, NGX ASI Sheds 121bps - Brand Spur

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.

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 Fixed Income

There was mixed sentiment across the bond yield curve as two of the four bond yields under coverage closed higher, the FGN-JAN-2026 bond paper closed flat while the FGN-APR-2023 bond paper compressed by 4bps. The FGN-MAR-2024 and FGN-JUL-2030 bond paper yields increased by 9bps and 3bps respectively.

The Treasury bill yields for the 91 and 364-day papers closed flat at 3.48% and 6.10% while the yield on the 182-day paper compressed by 20bps to close at 5.19%.

We expect market activity to be influenced by the liquidity levels in the financial system

MARKET SNAPSHOT

  • Domestic Bourse Closes the Week in Red after the 4-day Losses, NGX ASI Sheds 121bps
  • Mixed Sentiment across the Bond Yield Curve
  • Mixed Performance in Global Stocks
  • Brent Crude Reports @ $114.55/barrel
  • Negative Performance in African Stocks

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