Sell pressure in large-cap stocks such as BUACEMENT(-4.51%) and FBNH (-0.46%) yesterday led to a marginal decline of the Nigerian All Share Index by 0.03% to close at 50,582.30 points.
Consequently, the YTD return decreased to 18.41% as market capitalization declined by ₦6.83 billion to close at ₦27.28 trillion.
The sectoral performance marginally strengthened as three of the five indices under coverage improved. The Banking index, the biggest gainer, improved by 2.07% on ZENITHBANK (+2.80%). The Consumer goods and Insurance indices, followed suit, increasing by 0.06% and 0.04% on PZ (+10.00%) and CUSTODIAN (+4.62%) respectively. Conversely, the Industrial and Oil & Gas Indices, the losers, declined by 1.57% and 0.28% on BUACEMENT (-4.51%) and ARDOVA (-0.20%) respectively.
Investors’ sentiment strengthened as the market breadth increased to 1.50x from 1.47x. This was illustrated by the advance of 24 stocks, led by PZ (+10.00%) and HONYFLOUR (+9.64%) and the decline of 16 stocks, led by MULTIVERSE (-10.00%) and LASACO (-7.07%). Activity level was mixed as the total volume improved by 7.66% while the total value declined by 61.08%, as investors exchanged about 130.45mn units of shares worth over ₦1.62bn.
There was mixed sentiment across the bond yield curve as two of the four bond yields under coverage closed flat while the yields on the FGN-APR-2023 and FGN-MAR-2024 closed inched higher by 2bps and 21bps respectively. The yields on the FGN-JAN-2026 and FGN-JUL-2030 bonds closed flat at 11.75% and 12.19% respectively.
The Treasury bill yields for the 182 and 364-day papers closed flat at 7.78% and 6.82% respectively while the 91-day paper compressed by 1bp to 6.08%.
- Downward Trajectory Persists in the Local Bourse, NGX ASI Loses 3bps
- Mixed Sentiment across the Bond Yield Curve
- Positive Performance in Global Stocks
- Brent Crude Reports at $93.8/barrel
- Positive Performance in African Stocks