At the end of today’s trading session, the Nigerian All Share Index closed in red, declining slightly by 0.01% to close at 51,557.41 points.
Today’s performance was due to selloffs in large-cap stocks such as WAPCO (-0.76%) and ACCESSCORP (-2.06%). Consequently, the YTD return decreased to 20.70% as market capitalisation declined by ₦3.41 billion to close at ₦27.81 trillion.
The sectoral performance was mixed as two of the five indices under coverage improved, two declined while the Consumer Goods index closed flat. The Banking and Oil & Gas indices improved by 0.15% and 0.09% on ZENITHBANK (+0.69%) and OANDO (+0.73%) respectively. Conversely, the Insurance and Industrial indices, the laggers, declined by 0.74% and 0.05% on CORNERST (-5.48%) and WAPCO (-0.76%) respectively.
Investors’ sentiment weakened as the market breadth decreased to 1.08x from 1.50x. This was illustrated by the advance of 13 stocks, led by CAVERTON (+9.91%) and ACADEMY (+9.88%) and the decline of 12 stocks, led by NAHCO (-7.31%) and CORNERST (-5.48%). Activity level was mixed as the total volume declined by 19.65% while the total value improved by 1.29%, as investors exchanged about 115.13mn units of shares worth over ₦1.78bn.
Fixed Income
There was mixed sentiment across the bond yield curve as two of the four bond yields under coverage closed flat while the FGN-JAN-2026 and FGN-JUL-2030 bond yields inched higher by 22bps and 52bps respectively. The yields on the FGN-APR-2023 and FGN-MAR-2024 bond papers closed flat at 6.89% and 8.14% respectively.
The Treasury bill yields for the 91 and 365-day papers closed flat at 9.50% and 6.39% respectively while the 182-day compressed by 1bp to close at 8.62%.
We expect market activity to be influenced by the liquidity levels in the financial system
MARKET SNAPSHOT
- Marginal Negative Performance in the Local Bourse, NGX ASI Sheds 1bp
- Mixed Sentiment across the Bond Yield Curve
- Positive Performance in Global Stocks
- Commodities Market Closes in Green
- Positive Performance in African Stocks
