Today, the Nigerian Equities market closed on a positive note, as the All-Share Index (ASI) increased by 0.47% to 100,503.21 points. Consequently, the market year-to-date (YtD) return rose to 34.41% from yesterday’s 33.94% YtD. This increase was driven by gains in AIRTELAFRI, UCAP, and OANDO, offsetting losses in ZENITH, FBNH, and UBA.
Today, total volume and value traded decreased by 64.27% and 17.30% to NGN382.80mn and NGN8.33bn units respectively. AIRTELAFRI traded the highest in terms of value, while ACCESCORP traded the highest in terms of volume.
The top gainers for today were OANDO, AFRIPRUD, LEARNAFRCA while the top losers were LINKASSURE, VERTISKAP, and VITAFOAM.
Daily Market Update (Fixed Income)
Today, the NT-bills secondary market ended on a bearish note, as the average yield increased by 9bps to settle at 23.53%. This was driven by selloffs in the Mid tenor bills. Similarly, the FGN bond market closed bearish as the average yield increased by 8bps to settle at 19.37%. This follows selloffs in the FEB-2034 and JUN-2033 instruments. Overall, the Naira fixed income market closed negative as the average yield increased by 8bps to settle at 21.45%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024
Stock Market Despite losing three (3) times, investors went home smiling as they gained NGN49.53bn, bringing the market to close...