At the end of yesterday’s trading session, the Nigerian All-Share Index closed positive, increasing by 0.60% to close at 44,929.33 points.
The performance was due to bargain hunting in large-cap stocks such as MTNN (+1.52%) and ZENITHBANK (+1.84%). Consequently, the YTD return increased to 5.18% as market capitalisation increased by ₦145.08 billion to close at ₦24.47 trillion.
The sectoral performance broadly strengthened as all of the five indices under coverage advanced. The Banking index, the biggest gainer, rose by 1.10% on ZENITHBANK (+1.84%). The Consumer Goods, Industrial, Oil & Gas and Insurance indices, followed suit, increasing by 0.86%, 0.33%, 0.19% and 0.18% on CADBURY (+0.45%), WAPCO (+5.26%), OANDO (+1.33%) and WAPIC (+2.94%) respectively.
Investors’ sentiment weakened as the market breadth decreased to 3.86x from 4.33x. This was illustrated by the advance of 27 stocks, led by UPDCREIT (+10.00%) and INTBREW (+9.41%) and the decline of 7 stocks, led by RTBRISCOE (-10.00%) and PRESCO (-7.17%). Activity level was mixed as the total volume decreased by 20.68% and value increased by 97.51%, as investors exchanged about 126.56mn units of shares worth over ₦3.86bn.
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.
Fixed Income
There was mixed sentiments across the bond yields curve as two of the bonds under our coverage climed higher while the FGN-JAN-2026 closed flat. The yields on FGN-MAR-2024 and FGN-JUL-2030 bond papers inched higher by 1bp, and 13bps respectively. The yields FGN-APR-2023 bond papers compressed by 1bp.
The yields for the 182 and 364-day papers compressed by 1bp each to close at 8.36% and 15.43% respectively while the 91-day paper closed flat at 8.47%.
We expect market activity to be influenced by the liquidity levels in the financial system.
- Positive Performance Persist in the Local Bourse, NGX ASI Gains 60bps
- Mixed Sentiments across the Bond Yield Curve
- Positive Performance in Global Stocks
- Commodities Market Closes in Green
- Positive Performance in African Stocks
- Naira Gains in the parallel market
