Daily Market Update (Equities)
The market started the month on the back of positive returns as its benchmark index went up by 1.94% to an all-time high of 70,581.76 points. Consequently, the year-to-date returns printed at 37.72% (vs. Yesterday: 35.09% YtD). Today, enormous gains in AIRTELAFRI, FBNH and ZENITHBANK helped to mitigate against losses incurred on DANGSUGAR, UNILEVER and CHAMPION.
Total Volume traded increased by 22.92% to 594.05mn units (vs. Yesterday: 483.27mn units). Similarly, Total Value traded climbed higher by 78.54% to NGN10.79bn (vs. Yesterday: NGN6.04bn). Today, FBNH traded the highest in terms of both Volume and Value.
Today, AIRTELAFRI, CHAMS and NEM topped the gainers’ chart while CAVERTON, CHAMPION and CILEASING were the top losers.
Daily Market Update (Fixed Income)
Today, the NT-bills secondary market ended the day on a negative note as average yield increased by 0.20% to 11.13%. Similarly, the FGN Bond market closed negative as average yield went up by 0.04% to 15.37%. Overall, the Naira Fixed Income market closed on a negative note as average yield climbed up by 0.12% to 13.25%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024