The Nigerian Equities Market started the week on a negative note as its benchmark index declined by 0.18% to 65,210.49 points. Consequently, its Year-to-Date (YtD) return printed at 27.24% (Last Friday: 27.46% YtD). The negative market performance was primarily driven by losses in BUACEMENT, ZENITHBANK, and FBNH offsetting the gains in DANGSUGAR and ETI.
Today, TRANSCORP traded highest in terms of Volume while GTCO traded the highest in terms of Value.
The top gainers for today were CORNERST, OMATEK and CHAMS while ETERNA, SUNUASSUR and UPL topped the losers’ chart.
Daily Market Update (Fixed Income)
Today, the Nigerian Treasury bills secondary market closed positive as average yield dipped by 0.03% to close at 7.30%. Meanwhile, the FGN bond market closed negative as average yield increased by 0.03% to close at 13.55%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024