Marginal Positive Performance Returns In Local Bourse

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Marginal Positive Performance Returns In Local Bourse
Marginal Positive Performance Returns In Local Bourse

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.

Marginal Positive Performance Returns In Local Bourse - Brand Spur

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.

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Fixed Income

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.

MARKET SNAPSHOT

  • 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