{"id":117637,"date":"2022-04-27T10:01:29","date_gmt":"2022-04-27T09:01:29","guid":{"rendered":"https:\/\/brandspurng.com\/?p=117637"},"modified":"2022-04-27T10:01:29","modified_gmt":"2022-04-27T09:01:29","slug":"bulls-sustain-dominance-in-the-local-bourse","status":"publish","type":"post","link":"https:\/\/brandspurng.com\/2022\/04\/27\/bulls-sustain-dominance-in-the-local-bourse\/","title":{"rendered":"Bulls Sustain Dominance in the Local Bourse"},"content":{"rendered":"
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Activities at the Nigerian equities market yesterday’s closed positive with the All Share Index extending its positive streak by 0.05% to close at 48,568.57 points. <\/strong><\/em><\/h4>\n

The performance was due to buying pressures in bellwether stocks such as SEPLAT (+6.80%) and WAPCO (+0.37%). Consequently, the YTD return increased to 13.70% as market capitalisation rose by \u20a613.59 billion to close at\u00a0 \u20a626.18 trillion.<\/p>\n

The sectoral performance was broadly positive as four of the five indices under coverage advanced. The Oil & Gas index, the biggest gainer, rose by 3.35% on\u00a0 SEPLAT (+6.80%). The Consumer Goods, Insurance and Industrial indices, followed suit, increasing by 1.10%, 0.88% and 0.03% on NB (+8.41%), CORNEST (+1.54%) and WAPCO (+0.37%) respectively. Conversely. the Banking Index, the sole loser fell by 1.39% on ZENITHBANK (-2.94%).<\/p>\n

Investors’ sentiment weakened but positive as the market breadth decreased to 1.17x from 2.00x. This was illustrated by the decline of 23 stocks led by MULTIVERSE (-8.70%) and INTBREW (-8.04%) and the advance of 27 stocks, led by ACADEMY (+10.00%) and CHAMPION (+9.78%). Activity level was strengthened as the total volume increased by 41.52% while the total value increased by 73.58% as investors exchanged about 464.73mn units of shares worth over \u20a67.01bn.<\/p>\n

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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.<\/strong><\/p>\n

READ ALSO: Positive Performance Returns In The Domestic Bourse<\/a><\/strong><\/em><\/p>\n

Fixed Income<\/strong>
\nThere was mixed sentiment across the bond yield curve as two of the four bond yields under coverage compressed while the FGN-JAN-2026 and the FGN-JUL-2030 bond papers closed flat. The yields on the FGN-APR-2023 and FGN-MAR-2024 bond papers compressed by 2bps and 1bp respectively.<\/p>\n

Treasury bill yields for the 91, 182 and 364-day paper inched up by 2bps, 6bps, and 18bps at 3.25%, 3.52% and 4.66% respectively.<\/p>\n

We expect market activity to be influenced by the liquidity levels and foreign investors’ participation.<\/strong><\/p>\n

\u00a0Market Snapshot<\/strong><\/p>\n

\u00a0Bulls Sustain Dominance in the Local Bourse<\/a>, NGX ASI Gains 5bps<\/em><\/strong><\/p>\n