Daily Market Update (Equities)
Following a further negative run in the Nigerian equities market, the NGX All-Share Index (ASI) fell by 0.14% to settle at 97,248.82 points. Consequently, the market’s year-to-date (YtD) returns decreased to 30.60% compared to 30.25% yesterday. This bearish run was driven by losses in OANDO (-9.95% to NGN36.20), SEPLAT (-1.26% to NGN3,682.90) and NB (-4.52% to NGN29.60), offsetting gains in PRESCO (+3.70% to NGN477.00), HONEYWELL (+9.87% to NGN4.12) and NASCON (+2.64% to NGN36.95).
Today, market activity halted its positive performance, as total volume and value traded declined by 47.38% and 60.62% respectively to 315.30mn units and NGN5.48bn. GTCO maintained its top position in value traded for the third consecutive day, while VERITASKAP traded the highest in terms of volume.
Top gainers today were GUINEAINS, RTBRISCOE and HONEYFLOUR. On the other hand, OANDO, CUTIX and ACADEMY topped the losers’ chart.
Daily Market Update (Fixed Income)
Today, the NT-bills market continued its positive trend as the average yield declined by 0.09% to close at 25.47%. This is following buying interest across the tenors. Likewise, the FGN bond market closed on a positive note as the average yield fell by 0.04% to 19.93%. This was driven by buying interest across the yield curve. Overall, the Naira fixed income market concluded positive as the average yield decreased by 0.07% to 22.70%.
