Daily Market Update (Equities)
The Nigerian Equities market closed the day on a positive note as the NGX All Share Index (ASI) went up 0.62% to 78,020.54 points. Consequently, the market’s year-to-date (YtD) returns settled at 4.34% from 3.70% yesterday.
Total Volume increased by 6.92% to NGN984.19mn units, similarly, Total Value went up by 6.03% to NGN11,161.52bn. Today, FCMB traded the highest in terms of Volume while FIDELTYBK traded the highest in term Value.
The top gainers for today where MTNN, TRANSCORP and DANGSUGAR while ACCESS, FBNH and UBA topped the losers chart.
Daily Market Update (Fixed Income)
Today, the NT-bills secondary market closed flat as average yield remained constant at 6.16%. However, the FGN bond market closed bullish as average yield declined by 2bps to close at 13.81%. This was on the back of significant buying interest in the Mid-end of the curve. Overall, the Naira Fixed Income market closed positive as average yield declined marginally by 1bp to settle at 9.98%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024