At the end of yesterday’s trading session, the Nigerian All Share Index closed in green, advancing by 0.03% to close at 51,817.59 points.
Yesterday’s performance was due to buying interest in bellwether stocks such SEPLAT (+0.78%) and FLOURMILL (+1.56%). Consequently, the YTD return increased to 21.31% as market capitalisation increased by ₦8.16 billion to close at ₦27.94 trillion.
The sectoral performance strengthened as three of the five indices under coverage improved. The Oil and Gas index, the biggest gainer, rose by 0.42% on SEPLAT (+0.78%). The Insurance and Banking indices, followed suit, rising by 0.41% and 0.28% on CHIPLC (+8.96%) and FBNH (+1.75%) respectively. Conversely, both the Consumer goods and Industrial indices, the losers, declined by 0.21% and 0.15% on NB (-0.34%) and WAPCO (-2.04%) respectively.
Investors’ sentiment weakened but positive as the market breadth decreased to 1.12x from 1.21x. This was illustrated by the advance of 19 stocks, led by UPL (+9.79%) and MCNICHOLS (+9.73%) and the decline of 17 stocks, led by PZ (-9.86%) and TRIPPLEG (-8.42%). Activity level was mixed as the total volume declined by 46.43% while the total value advanced by 12.01%, as investors exchanged about 223.11mn units of shares worth over ₦3.87bn.
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 yields inched higher by 25bps and 1bp respectively. The yields on the FGN-APR-2023 and FGN-MAR-2024 bond papers compressed by 6bps and 1bp respectively.
The Treasury bill yields for the 91 and 364-day paper inched up by 157bps and 10bps to close at 5.04% and 6.19% respectively while the 182-day paper yield compressed by 1bp to close at 6.15%.
We expect market activity to be influenced by the liquidity levels in the financial system
MARKET SNAPSHOT
- Positive Performance Returns in the Local Bourse, NGX ASI Up 3bps
- Mixed Sentiment across the Bond Yield Curve
- Negative Performance in Global Stocks
- Commodities Market Closes in Red
- Mixed Performance in African Stocks
