Domestic Bourse Closes The Week In Green

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Profit-Taking Drags Local Bourse Southwards
Bullish Sentiments Persist in Local Bourse

At the end of yesterdady trading session, the Nigerian All-Share Index closed positive, increasing by 2.04% to close at 47,554.34 points.

The performance was due to buy-interest in large-cap stocks such as AIRTELAFRI (+7.41%) and MTNN (+5.00%). Consequently, the YTD return increased to 11.33% as market capitalisation increased by ₦517.11 billion to close at ₦25.90 trillion.

The sectoral performance marginally strengthened as three of the five indices under coverage advanced while the Oil & Gas index closed flat. The Insurance index, the biggest gainer, rose by 1.10% on CORNEST (+6.25%). The Banking and Industrial Indices, followed suit, increasing by 0.25%, and 0.25% on ACCESSCORP (+1.18%), and WAPCO (+4.50%) respectively. Conversely, the Consumer Goods index, the only loser, decreased by 2.37% on NESTLE (-10.00%).

Investors’ sentiment stregnthened as the market breadth increased to 2.25x from 0.84x. This was illustrated by the advance of 18 stocks, led by REDSTAREX (+9.66%) and REGALINS (+8.70%) and the decline of 8 stocks, led by NESTLE (-10.00%) and CAPHOTEL (-10.00%). Activity level was mixed as the total volume decreased by 28.59% and value increased by 154.41%, as investors exchanged about 98.98mn units of shares worth over ₦5.52bn.

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 quite outing across the bond yields curve as all of the bonds under our coverage closed flat. The yields on FGN-APR-2023, FGN-MAR-2024 and FGN-JAN-2026, and FGN-JUL-2030 bond papers remained unchanged.

The yields for the 91 and 364-day papers compressed by 1bp each to close at 10.49% and 15.41% respectively while the  yield on the 182-day paper closed flat at 9.97%.

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 204bps
  • Quite Outing across the Bond Yield Curve
  • Mixed Performance in Global Stocks
  • Brent Crude Reports @$85.42/barrel
  • Positive Performance in African Stocks
  • Naira appreciates in the parallel market