Daily Market Update (Equities)
The Nigerian Equities Market continued its positive trajectory this week as its benchmark index gained 1.65% to close at 69,236.19 points. This brought its year-to-date (YtD) returns to 35.09%, up from yesterday’s 32.90%. The positive returns in the market today was spurred by gains in AIRTERLAFRI, FBNH and BUACEM which offset the losses incurred in LAFARGE, GTCO and ZENITHBANK.
Total Volume traded went up by 12.29% to 483.27mn units, while Total Value traded declined by 26.80% to NGN6.04bn. In terms of highest Volume traded, JAPAULGOLD came out on top while GTCO traded the highest in terms of Value.
The top gainers for today were AIRTELAFRI, CADBURY and NNFM while the top losers were BETAGLAS, UPL and ELLAHLAKES
Daily Market Update (Fixed Income)
Today, the average yield in the NT-bills secondary market remained at 10.93%. However, the FGN Bond market ended the day on a negative note, as average yield went up by 0.32% to 15.33%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024