The Nigerian All-Share Index closed in red, falling by 1.60% to close at 43,912.64 points.
The performance was due to selling pressures in bellwether stocks such as DANGCEM (-10.00%) and MTNN (-0.05%). Hence, the YTD return decreased to 2.80% as market capitalisation decreased by ₦388.11 billion to close at ₦23.92 trillion.
The sectoral performance marginally weakened as three of the five indices under coverage declined while the Oil & Gas index closed flat. The Industrial, Insurance and Banking indices, the losers, fell by 4.83%, 0.45% and 0.22% on DANGCEM (-10.00%), NEM (-6.25%) and GTCO (-0.56%) respectively. Conversely, the Consumer Goods index, the only gainer, rose by 0.40% on DANGSUGAR (+6.19%).
Investors’ sentiment weakened as the market breadth decreased to 0.89x from 1.33x. This was illustrated by the decline of 18 stocks, led by DANGCEM (-10.00%) and LEARNAFRICA (-9.68%) and the advance of 16 stocks, led by WAPIC (+9.09%) and NEIMETH (+8.70%). Activity level was mixed as the total volume decreased by 18.67% while the total value increased by 183.08%, as investors exchanged about 122.79mn units of shares worth over ₦4.40bn.
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.
Fixed Income
There was mixed sentiments across the bond yield curve as the FGN-APR-2023 and FGN-JAN-2026 bond yields advanced by 7bps and 85bps while the FGN-MAR-2024 and FGN-JUL-2026 bond yields closed flat.
The yields for the 91, and 364-day paper closed flat at 11.15% and 14.68% repectively while the by 182-day paper compressed by 1bp to close at 8.68%.
We expect market activity to be influenced by the liquidity levels in the financial system.
- Domestic Bourse Closes the Week in Red, NGX ASI Sheds 160bps
- Mixed Sentiments across the Bond Yield Curve
- Positive Performance in Global Stocks
- Commodities Market Closes in Red
- Negative Performance in African Stocks
