Flattish Positive Performance In The Local Bourse

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Domestic Bourse Starts The Week In Red
Domestic Bourse Starts The Week In Red

At the end of yesterday’s trading session, the Nigerian All Share Index closed in positive territory, advancing by 0.01% to close at 51,563.73 points.

Yesterday’s performance was due to buying pressures in large-cap stocks such as ACCESSCORP (+2.11%) and ZENITHBANK (+0.46%). Consequently, the YTD return increased to 20.71% as market capitalisation increased by ₦11.98 billion to close at ₦27.81 trillion.

The sectoral performance was mixed as two of the five indices under coverage improved, two closed flat while the Insurance index declined by 0.11%. The Banking and Consumer Goods indices improved by 0.50% and 0.12% on ZENITHBANK (+0.46%) and INTBREW (+8.39%) respectively. Conversely, the Oil & Gas and Industrial indices closed flat.

Investors’ sentiment strengthened as the market breadth increased to 1.50x from 1.06x. This was illustrated by the advance of 15 stocks, led by ACADEMY (+9.55%) and NAHCO (+9.41%) and the decline of 10 stocks, led by RTBRISCOE (-8.11%) and UPDC (-7.87%). Activity level was strengthened as the total volume and value improved by 5.94% and 22.07%, as investors exchanged about 143.29mn units of shares worth over ₦1.76bn.

Flattish Positive Performance In The Local Bourse - Brand Spur

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 yield inched higher by 45bps compressed by 1bp while the yield on the  bond paper inched up by 58bps. The  yields on the FGN-APR-2023, FGN-MAR-2024 and FGN-JUL-2030 bond paper declined by 4bps, 1bp and 52bps respectively.

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The Treasury bill yields for the 91 and 182-day papers compressed by 1bp and 58bps to close at 9.50% and 8.63% respectively while the 364-day paper closed flat at 6.39%.
We expect market activity to be influenced by the liquidity levels in the financial system

MARKET SNAPSHOT

  • Flattish Positive Performance in the Local Bourse, NGX ASI Up 6bps
  • Bullish Sentiment across the Bond Yield Curve
  • Positive Performance in Global Stocks
  • Commodities Market Closes in Green
  • Positive Performance in African Stocks