Negative Performance Returns In Local Bourse

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Negative Performance Returns In Local Bourse
Negative Performance Returns In Local Bourse

At the end of yesterday’s trading session, the Nigerian All-Share Index closed in the red, falling by 0.12% to close at 49,161.45 points.

The performance was due to selloffs in bellwether stocks such as VITAFOAM (-6.98%) and GTCO (-0.53%). Consequently, the YTD return decreased to 15.09% as market capitalisation fell by ₦15.03 billion to close at ₦26.52 trillion.

The sectoral performance marginally weakened as three of the five indices under coverage declined. The Banking index, the biggest loser, declined by 0.65% on  ACCESSCORP (-4.55%). The Consumer Goods and Industrial indices followed suit, falling by 0.52% and 0.01% on VITAFOAM (-6.98%) and CUTIX (-0.49%) respectively. Conversely, the Oil & Gas and Insurance indices, the gainers, improved by 0.20% and 0.06% on ETERNA (+9.91%) and MANSARD (+4.37%) respectively.

Investors’ sentiment strengthened but negative as the market breadth increased to 0.82x from 0.71x. This was illustrated by the advance of 14 stocks, led by NGXGROUP (+10.00%) and MULTIVERSE (+10.00%) and the decline of 17 stocks, led by MAYBAKER (-9.79%) and REGALINS (-7.69%). Activity level strengthened as the total volume and value improved by 72.87% and 176.38% as investors exchanged about 206.21mn units of shares worth over ₦2.36bn.

Negative Performance Returns In Local Bourse - Brand Spur

We expect positive sentiment to return 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 relatively quiet outing across the bond yield curve as three of the four bond yields under coverage closed flat while the FGN-JUL-2030 yield increased by 46bps to close at 13.27%. The yields on the FGN-APR-2023, FGN-MAR-2024 and FGN-JAN-2026 remained unchanged at 6.12%, 12.14% and 13.20% respectively.

The Treasury bill yield for the 91, 182-day papers compressed by 1bp and 124bps to close at 11.45% and 5.51% respectively, while the 182-day paper advanced by 124bps to close at 6.75%.

We expect market activity to be influenced by the liquidity levels in the financial system.

MARKET SNAPSHOT

  • Negative Performance Returns in the Local Bourse, NGX ASI Sheds 12bps
  • Quiet Activity across the Bond Yield Curve
  • Positive Performance in Global Stocks
  • Commodities Market Closes in Green
  • Negative Performance in African Stocks