Daily Market Update (Equities)
The Nigerian Equities market closed the day on negative as the NGX All Share Index (ASI) decreased by 1.59% to 102,108.05 points. Consequently, the market’s year-to-date (YtD) returns settled at 36.56% from 38.63% yesterday.
Total Volume and Value traded dipped by 43.98% and 62.06% each to 471.43mn units and NGN7.33bn respectively. Today, JAIZBANK traded the highest in terms of Volume while GTCO traded the highest in terms of Value.
The top gainers for today include CADBURY, METER and DAARCOMN while BUACEMENT, STERLINGNG and WEMABANK topped the losers’ chart.
Daily Market Update (Fixed Income)
Today, the NT-bills secondary market closed negative as the average yield increased by 2.06% to settle at 11.91%, following sell-offs across all tenor. Likewise, the FGN bond market closed negative as average went up by 0.03% to close 15.32%. Overall, the Naira Fixed Income market closed negative as the average yield surged by 1.03% to settle at 14.94%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024