Daily Market Update (Equities)
Today, the Nigerian equities market closed positive with the NGX All-Share Index (ASI) surging by 0.25% to settle at 99,895.92points. Consequently, the market’s year-to-date (YtD) returns increased to 28.25% compared to 28.09% Yesterday.
Today, market activity made a positive performance, as total volume increased by 71.41% to 1.13bn units and value traded increased by 0.50% to NGN7.69bn. JAIZBANK maintained its top position in both value and Volume traded for today.
Top gainers today were LEARNAFRCA, CUTIX and RTBRISCOE. On the other hand, OMATEK, FTNCOCOA and NEIMETH topped the losers’ chart.
Daily Market Update (Fixed Income)
Today, the NT-bills market closed on a positive note as the average yield dipped by 0.14% to close at 22.95%. This is following buying interest across all tenors. However, the FGN bond market closed on a negative note, as the average yield increased by 0.03% to settle at 19.73%. Consequently, the overall Naira fixed income market closed positive, as the average yield dropped by 0.05% to 21.34%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024