The Nigerian All Share Index closed positive at the end of yesterday’s trading session, improving by 0.39% to close at 49,836.51 points.
The performance was due to buying pressures in large-cap stocks such as GUINNESS (+9.88%) and BUAFOODS (+4.48%). Consequently, the YTD return increased to 16.67% as market capitalisation rose by ₦104.54 billion to close at ₦26.88 trillion.
The sectoral performance significantly strengthened as four of the five indices under coverage improved. The Consumer Goods index, the biggest gainer, improved by 1.80% on GUINNESS (+9.88%). The Banking, Industrial and Oil & Gas indices followed suit, rising by 0.62%, 0.37%, and 0.33% on ETI (+1.85%), WAPCO (+4.60%) and ARDOVA (+4.13%) respectively. Conversely, the Insurance index, the only loser, fell by 0.10% on CHIPLC (-7.69%).
Investors’ sentiment strengthened as the market breadth increased to 1.67x from 0.92x. This was illustrated by the advance of 20 stocks, led by GUINNESS (+9.88%) and CAVERTON (+9.62%) and the decline of 12 stocks, led by CHIPLC (-7.69%) and UNILEVER (-7.22%). Activity level strengthened as the total volume and value advanced by 191.66% and 5.35%, as investors exchanged about 367.34mn units of shares worth over ₦3.24bn.
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 bearish sentiment across the bond yield curve as three of the four bond yields under coverage closed higher while the FGN-JAN-2026 bond closed flat. The yields on the FGN-APR-2023, FGN-MAR-2024 and FGN-JUL-2030 bond papers compressed by 3bps, 29bps and 3bps respectively.
The Treasury bill yield for the 91-day paper compressed by 1bps to close at 11.55% while the 182 and 364-day paper closed flat at 6.50% and 6.79% respectively.
We expect market activity to be influenced by the liquidity levels in the financial system.
MARKET SNAPSHOT
- Positive Performance Returns in the Local Bourse, NGX ASI Gains 39bps
- Bearish Sentiment across the Bond Yield Curve
- Negative Performance in Global Stocks
- Commodities Market Closes in Red
- Negative Performance in African Stocks
