The Nigerian All-Share Index closed in the green, rising marginally by 0.02% to close at 49171.70 points.
The performance was due to buying pressures in bellwether stocks such as BUACEMENT (+3.07%) and ARDOVA (+7.42%). Consequently, the YTD return increased to 15.11% as market capitalisation improved by ₦13.74 billion to close at ₦26.53 trillion.
The sectoral performance marginally weakened as three of the five indices under coverage declined. The Banking index, the biggest loser, declined by 1.01% on GTCO (-4.00%). The Consumer Goods and Insurance indices followed suit, falling by 0.09% and 0.05% on INTBREW (-1.96%) and ROYALEX (-9.80%) respectively. Conversely, the Industrial and Oil & Gas indices, the gainers, improved by 1.10% and 0.34% on BUACEMENT (+3.07%) and ARDOVA (+7.42%) respectively.
Investors’ sentiment weakened as the market breadth decreased to 0.35x from 0.82x. This was illustrated by the advance of 7 stocks, led by CHAMS (+8.00%) and ARDOVA (+7.42%) and the decline of 20 stocks, led by JAPAULGOLD (-10.00%) and ROYALEX (-9.80%). Activity level weakened as the total volume and value declined by 50.74% and 49.29% as investors exchanged about 101.57mn units of shares worth over ₦1.20bn.
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.
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 yields compressed by 7bps and 1bp. The yields on the FGN-APR-2023 and FGN-MAR-2024 remained unchanged at 13.20% and 13.27% respectively.
The Treasury bill yields for the 91, 182 and 364-day papers closed flat at 11.45%, 5.51% and 6.75% respectively.
We expect market activity to be influenced by the liquidity levels in the financial system.
- Marginal Positive Performance Returns in the Local Bourse, NGX ASI Gains 2bps
- Mixed Sentiment across the Bond Yield Curve
- Positive Performance in Global Stocks
- Commodities Market Closes in the Green
- Negative Performance in African Stocks