Daily Market Update (Equities)

The Nigerian equities market continue it bearish run this week as the NGX All Share Index declined by 0.07%, closing at 98,132.15 points. This pushed the market’s year-to-date (YTD) return down to 31.23%, compared to 31.33% YTD on Friday. Gains in ZENITH, JULIUS BERGER, and ECOBANK were the main drivers of the positive performance, outweighing losses recorded by UCAP, OANDO, and FCMB.

Market activity was less positive, with total volume and value traded decreasing by 65.64% and 59.69% respectively, to 379.13mn units and NGN8.70bn. UBA was the most traded by volume, while SEPLAT led in terms of value traded.

AFRIPRUD, CUTIX and ETERNA led the gainers, while CAVERTON, WAPIC and ABCTRANS led the laggards.

Daily Market Update (Fixed Income)

Today, the NT-bills secondary market ended on a positive note, as the average yield declined by 0.03% to settle at 25.20%. However, the FGN bond market closed negative as the average yield increased by 0.25% to settle at 19.71%. Overall, the Naira fixed income market closed lower as the average yield rose by 0.11% to settle at 22.45%.