Positive Performance Returns In Local Bourse

Positive Performance Returns In Local Bourse
Positive Performance Returns In Local Bourse

The Nigerian All-Share Index closed in positive territory, rising by 0.02% to close at 52,626.42 points.

The performance was due to buy-interest in large-cap stocks such as NGX (+0.38%) and DANGSUGAR (+1.74%). Consequently, the YTD return increased to 2.68% as market capitalisation increased by ₦5.9 billion to close at ₦28.66 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, led the gainers, rising by 0.36% on CORNERST (+1.82%). The Banking, and Industrial indices, followed suit, rising by 0.20%, and 0.05%, on ETI (+1.30%),  and WAPCO (+1.02%) respectively. Conversely, the Consumer goods index, the only loser, fell by 0.03% on  INTBREW(-5.10%).

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 INTENEGINS (+9.80%) and  CWG (+9.50%) and the decline of 15 stocks, led by CILEASING (-10.00%) and SOVERENINS (-7.14%). 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.

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 yields curve as two of the bonds under our coverage closed lower while the yield on the FGN-JAN-2026 closed flat. The yields on the FGN-APR-2023 and FGN-MAR-2024  bond papers inched higher by 2bps and 6bps respectively. The yield on the FGN-JUL-2030 bond paper climbed higher by 44bps.

The yields for the 91, 182 and 364-day papers closed flat to close at 2.16%, 3.29% and 5.23% 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 2bps
  • Mixed Sentiments across the Bond Yield Curve
  • Negative Performance in Global Stocks
  • Brent Crude Reports @$86.29/barrel
  • Positive Performance in African Stocks
  • Naira Marginally Appreciates  in the Parallel Market