Daily Market Update (Equities)
The Nigerian Equities market rebounded from its loss yesterday, as its benchmark index gained 0.27% to close at 63,930.72 points. Consequently, its Year-to-Date returns increased to 24.74% from yesterday’s 24.40%. Geregu Power PLC and United Bank for Africa PLC recovered from their loss yesterday and emerged as the major market movers along with Dangote Sugar Refinery PLC, Guaranty Trust Holding Co PLC and FBN Holdings PLC in today’s trading session.
United Bank for Africa PLC traded the highest in the market in terms of both volume and value. The total Volume and Value trade increased to NGN1,358.95mn and NGN18.07bn respectively after experiencing significant declines yesterday.
The top gainers for today were UPL, ACADEMY and IKEJAHOTEL while the top losers were COURTVILLE, FTNCOCOA and ABBEYBDS.
Daily Market Update (Fixed Income)
Today, average yield in the Nigerian Treasury bills secondary market remained at 4.34%. On the other hand, the FGN bond market closed positive as average yield fell by 0.03% to 12.72%. This is following increased buying interest in the mid-term bond instruments.