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Daily Market Update (Equities)

The Nigerian equities market extended its loss for the second consecutive trading session this week, as the market’s benchmark index dropped 1.30% to settle at 101,060.67 points. The market was dragged down down by significant losses in tickers including BUACEM, FBNH, TRANSCORP, DANGSUGAR and UBA, which suppressed gains recorded in GEREGU, LAFARGE, ETERNA, VERITAS and ELLAHLAKES. Consequently, the markets’ year-to-date returns (YtD) fell to 35.16% from yesterday’s 36.94%.

Market sentiment today was poor evinced by declines in both total Volume (-9.04% to 249.10mn units) and Value (-13.84% to NGN6.41bn). FIDELITYBANK traded the highest in terms of Volume while GEREGU led the Value chart.

The top gainers for today were ETERNA, GEREGU and NSLTECH, while HONEYFLOUR, BUACEM and PZ topped the losers’ chart for the day.

Daily Market Update (Fixed Income)

Today, the NT-bills secondary market closed flat as the average yield remained at 15.44%. However, the secondary FGN Bond market ended the day on a positive note as the average yield lost 0.04% to 16.09%. Overall, the Naira Fixed Income market closed bullish as the average yield declined by 0.02% to settle at 15.76%.

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