The Nigerian All Share Index closed positive at the end of yesterday’s trading session, rising by 0.04% to close at 49,682.15 points.
The performance was due to buying pressures in bellwether stocks such as GTCO (+0.25%) and FBNH (+0.93%). Consequently, the YTD return increased to 16.31% as market capitalisation improved by ₦10.937 billion to close at ₦26.80 trillion.
The sectoral performance weakened as three of the five indices under coverage declined. The Banking index, the biggest loser, fell by 0.67% on ZENITHBANK (-0.45%). The Insurance and Industrial indices followed suit declining by 0.39%, and 0.01% on AIICO (-1.79%) and WAPCO (-0.21%) respectively. Conversely, the Consumer Goods and Oil & Gas indices, improved by 0.51% and 0.16% on NESTLE (+3.26%) and OANDO (+1.00%) respectively.
Investors’ sentiment strengthened as the market breadth increased to 1.13x from 0.69x. This was illustrated by the advance of 17 stocks, led by JAPAULGOLD (+9.68%) and MBENEFIT (+7.14%) and the decline of 15 stocks, led by ELLAHLAKES (-10.00%) and VITAFOAM (-9.78%). Activity level was mixed as the total volume declined by 14.55% while the total value improved by 67.93%, as investors exchanged about 193.51mn units of shares worth over ₦4.64bn.
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 sentiments across the bond yield curve as two of the four bond yields under coverage advanced while the FGN-JAN-2026 and FGN-JUL-2030 closed flat. The yields on the FGN-APR-2023 and FGN-MAR-2024 bond papers advanced by 7bps and 79bps respectively.
The Treasury bill yields for the 91, 182 and 364-day papers closed flat at 3.93%, 10.48% and 6.79% respectively.
We expect market activity to be influenced by the liquidity levels in the financial system.
MARKET SNAPSHOT
- Local Bourse Closes the Week in Green, NGX ASI Gains 4bps
- Mixed Sentiment across the Bond Yield Curve
- Negative Performance in Global Stocks
- Commodities Market Closes in Red
- Mixed Performance in African Stocks
