At the end of yesterday’s trading session, the Nigerian All Share Index closed negative, declining by 1.11% to close at 51,400.53 points.
Yeterday’s performance was due to selloffs in bellwether stocks such as MTNN (-6.99%) and GTCO (-0.24%). Consequently, the YTD return decreased to 20.33% as market capitalisation declined by ₦312.77 billion to close at ₦27.72 trillion.
The sectoral performance strengthened as four of the five indices under coverage advanced while the Oil & Gas index declined by 0.03% on OANDO (-0.19%). The Banking index, the biggest gainer, rose by 1.03% on ZENITHBANK (+4.58%). The Consumer Goods, Insurance and Industrial indices, followed suit, improving by 0.12%, 0.06% and 0.04% on INTBREW (+2.78%), CORNERST (+4.17%) and WAPCO (+7.31%) respectively.
Investors’ sentiment strengthened but negative as the market breadth increased to 0.76x from 0.50x. This was illustrated by the decline of 17 stocks, led by MTNN (-6.99%) and UCAP (-5.51%) and the advance of 13 stocks, led by CAP (+10.00%) and NAHCO (+10.00%). Activity level weakened as the total volume and value declined by 51.79% and 17.77%, as investors exchanged about 98.85mn units of shares worth over ₦2.51bn.
Fixed Income
There was mixed sentiment across the bond yield curve as two of the four bond yields under coverage closed higher while the yields on the FGN-JAN-2026 and FGN-JUL-2030 closed flat at 11.30% and 11.78% respectively. The bond paper yields on FGN-APR-2023 and FGN-MAR-2024 inched higher by 18bps and 182bps respectively.
The Treasury bill yields for the 91 and 182-day papers compressed by 1bp and 1bp to close at 9.18% and 8.59% respectively while the 364-day closed flat at 6.37%.
We expect market activity to be influenced by the liquidity levels in the financial system
MARKET SNAPSHOT
- Domestic Bourse Closes the Week in Red, NGX ASI Sheds 111bps
- Mixed Sentiment across the Bond Yield Curve
- Positive Performance in Global Stocks
- Commodities Market Closes in Red
- Negative Performance in African Stocks
