The Nigerian All-Share Index closed in positive territory, rising by 0.92% to close at 51,693.08 points. The performance was due to buy-interest in large-cap stocks such as AIRTELAFRI (+5.16%) and FBNH (+0.45%).
Consequently, the YTD return increased to 0.86% as market capitalisation increased by ₦256.40 billion to close at ₦28.16 trillion.
The sectoral performance was mixed as two of the five indices under coverage declined while the Industrial and Oil & Gas indices closed flat. The Banking and Insurance indices, the losers, fell by 1.40% and 0.70% on ZENITHBANK (-0.61%) and AIICO (-6.25%). Conversely, the Consumer Goods index, the only gainer, rose by 0.08% on NB (+1.91%).
Investors’ sentiment strengthened as the market breadth increased to 1.13x from 1.00x. This was illustrated by the appreciation of 18 stocks, led by THOMASWY (+9.28%) and ABCTRANS (+8.00%) and the depreciation of 16 stocks, led by UBN (-8.63%) and WEMABANK (-8.21%). Activity level was mixed as the total volume increased by 17.11%, while total value decreased by 60.96%, as investors exchanged about 229.22mn units of shares worth over ₦2.91bn.
We expect buy-interest to persist as the equities market presents decent opportunities amid declining yields in the fixed-income market.
Fixed Income
There was mixed sentiments across the bond yield curve as two of the bonds under our coverage compressed while the yields on the FGN-JAN-2026 closed flat. The yields on the FGN-APR-2023, and FGN-MAR-2024 bond papers compressed by 8bps and 2bps respectively while the yields on the FGN-JUL-2030 bond paper inched higher by 7bps.
The yields for the 91, and 364-day papers remain unchanged to close at 3.17%, 3.33% and 5,34% respectively while the yields for the 182-day paper compressed by 1bps to close at 3.32%.
We expect market activity to be influenced by the liquidity levels in the financial system.
- Domestic Bourse Begins the Week on a Positive note, NGX ASI Gains 92bps
- Mixed Sentiments across the Bond Yield Curve
- Positive Performance in Global Stocks
- Commodities Market Closes in the Green
- Positive Performance in African Stocks
- Naira Marginally Depreciates in the Parallel Market
