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Home Business & Economy Positive Performance Returns In Local Bourse
  • Business & Economy

Positive Performance Returns In Local Bourse

By
Brand Spur
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January 17, 2023
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    Positive Performance Returns In Local Bourse
    Domestic Bourse Begins Week On A Positive Note

    The Nigerian All-Share Index closed in positive territory, rising by 0.67% to close at 52,701.31 points.

     

    The performance was due to buy-interest in large-cap stocks such as AIRTELAFRI (+3.23%) and GTCO (+0.41%). Consequently, the YTD return increased to 2.83% as market capitalisation increased by ₦192 billion to close at ₦28.70 trillion.

    The sectoral performance broadly strengthened as four of the five indices under coverage advanced. The Consumer Goods index, led the gainers, rising by 0.53% on FLOURMILL (+3.00%). The Oil & Gas, Banking, and Industrial indices, followed suit, rising by 0.19%, 0.19% and 0.08%, on MRS (+9.93%), GTCO (+0.41%) and WAPCO (+1.64%) respectively. Conversely, the Insurance index, the only loser, fell by 0.08% on WAPIC (-2.17%).

    Investors’ sentiment strengthened as the market breadth increased to 1.33x from 0.87x. This was illustrated by the appreciation of 20 stocks, led by UPDCREIT (+10.00%) and  MRS (+9.93%) and the decline of 15 stocks, led by UPDC (-6.93%) and GEREGU (-6.71%). Activity level strengthened as the total volume and value increased by 2.99% and 36.73%, as investors exchanged about 228.49mn units of shares worth over ₦4.44bn.

    Positive Performance Returns In Local Bourse - Brand Spur

    We expect buy-interest to persist as the equities market presents decent opportunities amid declining yields in the fixed-income market.

    Read Also:  Indomie, Maggi, Others Emerge Most Chosen Brands In Nigeria

    Fixed Income

    There was mixed sentiments across the bond yields curve as two of the bonds under our coverage closed flat while the yield on the FGN-MAR-2024 compressed by 33bps. The yields on the FGN-JAN-2026  bond papers inched higher by 27bps.

    The yields for the 91, 182 and 364-day papers closed flat to close at 2.16%, 3.29% and 6.21% respectively.

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

    • Positive Performance Returns in the Local Bourse, NGX ASI Gains 67bps
    • Mixed Sentiments across the Bond Yield Curve
    • Mixed Performance in Global Stocks
    • Brent Crude Reports @$85.99/barrel
    • Negative Performance in African Stocks
    • Naira Marginally Depreciates  in the Parallel Market

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    • TAGS
    • BOURSE
    • Geregu
    • Nigerian All-Share Index
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