Newly Listed Geregu Top NGX Gainers Chat, Amidst Negative Market Performance

0
Newly Listed Geregu Top NGX Gainers Chat, Amidst Negative Market Performance
Newly Listed Geregu Top NGX Gainers Chat, Amidst Negative Market Performance

The Nigerian All-Share Index closed in negative territory, falling by 0.09% to close at 48,836.70 points.

The performance was due to selling pressures in large-cap stocks such as CADBURY (-9.93%) and STANBIC (-3.33%). Consequently, the YTD return decreased to 14.33% as market capitalisation increased by ₦226.52 billion to close at ₦26.60 trillion.

The sectoral performance significantly weakened as four of the five indices under coverage declined while the Industrial closed flat. The Banking index, the biggest loser, declined by 0.98% on ZENITHBANK (-1.55%). The Oil & Gas, Consumer Goods and Insurance indices followed suit, falling by 0.27%, 0.18% and 0.09% on OANDO (-1.70%), CADBURY (-9.93%) and CORNEST (-8.93%) respectively.

Investors’ sentiment strengthened but remained negative as the market breadth increased to 055.x from 0.43x. This was illustrated by the advance of 12 stocks, led by  (-9.09%) and REDSTAREX (-7.83%) and the advance of 21 stocks, led by MULTIVERSE (+9.76%) and RTBRISCOE (+8.82%). Activity level weakened as the total volume and value declined by 51.37% and 36.09% as investors exchanged about 173.46mn units of shares worth over ₦2.39bn.

Newly Listed Geregu Top NGX Gainers Chat, Amidst Negative Market Performance - Brand Spur

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

Read Also:  EXPLAINER: How CBN’s Cash Withdrawal Policy Will See Nigerians Help Govt Repay Its Huge N42trn Debt

Fixed Income

There was mixed sentiment across the bond yield curve as two of the four bond yields under coverage advanced, while the FGN-APR-2023 and FGN-JAN-2026 yields closed flat. The yields on the FGN-MAR-2024 and FGN-JUL-2030 inched higher by 40bps and  9bps respectively.

The Treasury bill yields for the 91 and 364-day closed flat at 6.07% and 9.02% respectively while the 182-day paper yields compressed by 1bps to close at 7.24%.

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

  • Negative Performance Persists in the Local Bourse , NGX ASI Sheds 9bps
  • Mixed Sentiment across the Bond Yield Curve
  • Negative Performance in Global Stocks
  • Brent Crude Reports @ $93.29
  • Negative Performance in African Stocks