Daily Market Update (Equities)
The Nigerian Equities market continued its negative streak and posted a 0.32% decline to 104,181.32 points in today’s trading session. Consequently, the market’s year-to-date (YtD) returns fell to 39.33% from yesterday’s 39.78% YtD.
Today, total Volume and Value traded fell by 25.75% and 39.04% each to 405.03mn units and NGN8.91bn, respectively. GTCO traded the highest in terms of both Volume and Value.
Top losers for the day were INTENEGINS, CAVERTON and NEM, while the top gainers were MORISON, CUTIX and MBENEFIT.
Daily Market Update (Fixed Income)
Today, the NT-bills secondary market closed on a positive note, as the average yield fell by 0.05% to 17.60%. Similarly, the secondary FGN Bond market performed positively as the average yield fell by 0.03% to 19.30%. Overall, the average yield in the Naira Fixed Income market fell by 0.04% to settle at 18.45%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024