Domestic Bourse Closes The Week In Green

Domestic Bourse Closes The Week In Green
Domestic Bourse Closes The Week In Green

The Nigerian All-Share Index closed in green, rising by 0.15% to close at 44,396.73 points.

The performance was due to bargain hunting in large-cap stocks such as GTCO (+0.27%) and BUACEMENT (+1.65%). Consequently, the YTD return increased to 3.93% as market capitalisation increased by ₦35.14 billion to close at ₦24.18 trillion.

The sectoral performance was mixed as two of the five indices under coverage declined while the Oil & Gas index closed flat. The Insurance and Banking indices, the losers, fell by 3.58% and 0.35% on NEM (-9.98%) and ZENITH BANK (-0.74%), respectively. Conversely, the Industrial and Consumer Goods indices, the gainers, rose by 0.77% and 0.15% on BUACEMENT (+1.64%) and NB (+0.24%), respectively.

Investors’ sentiment weakened as the market breadth decreased to 1.07x from 1.13x. This was illustrated by the advance of 15 stocks, led by NEM (-9.98%) and MORISON (-9.59%) and the advance of 16 stocks, led by ACADEMY (+9.77%) and STERNBANK (+3.95%). Activity level weakened as the total volume and value decreased by 20.16% and 41.14%, respectively, as investors exchanged about 95.18mn units of shares worth over ₦1.88bn.

Domestic Bourse Closes The Week In Green - 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 sentiments across the bond yield curve as two of the four bond yields under coverage closed lower. The yields on the FGN-APR-2023 and FGN-JUL-2030 bond papers compressed by 3bps and 7bps, respectively, while the FGN-MAR-2024 and FGN-JAN-2026 bond papers remained unchanged.

The 91, 182, and 364-day paper yields closed flat at 6.05%, 9.84%, and 15.42%, respectively.

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

  • Domestic Bourse Closes the Week in Green, NGX ASI Gains 15bps
  • Mixed Sentiments across the Bond Yield Curve
  • Mixed Performance in Global Stocks
  • Commodities Market Closes in Green
  • Negative Performance in African Stocks