Daily Market Update (Equities)
The Nigerian Equities market rebounded from its loss yesterday, as its benchmark index, the NGX All Share Index (ASI) rose by 0.43% to 71,250.17 points. Consequently, its Year-to-Date (YtD) returns went up to 39.02% (vs 38.43% Yesterday). The gains in BUACEMENT, FBNH and Access Holdings offset the losses in Airtel Africa, FCMB and Abbey Mortgage Bank.
Today, GTCO traded the most by Volume while AIRTELAFRICA traded the most based on Value.
The top losers for today were BUACEMENT, CWG and MBENEFIT while FBNH, DAARCOMM and NEIMETH topped the gainers’ chart.
FIXED INCOME
Today, the NT-bills secondary market closed negative as the average yield surged by 0.47% to settle at 10.96%. However, the FGN bond market closed on a positive note as the average yield went down by 0.01 to settle at 15.61%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024