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.
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.
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.
- 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