Daily Market Update (Equities)
The Nigerian Equities market rebounded from its two-day negative returns, as it posted a 0.32% gain in today’s trading session. This is following gains in ZENITHBANK, GTCO, UBA and ACCESSCORP offsetting losses in FBNH, MTNN, TRANSCORP and INTBREW. Consequently, the market’s year-to-date (YtD) returns increased to 39.47% from yesterday’s 39.02% YtD.
Today, total Volume and Value traded increased by 33.46% and 9.92% each to 499.71mn units and NGN12.41bn respectively. ACCESSCORP traded the highest in terms of Volume while GTCO traded the highest in terms of Value.
Top gainers for the day were CWG, FTNCOCOA and LIVESTOCK, while the top losers were NNFM, PRESTIGE and OMATEK.
Daily Market Update (Fixed Income)
Today, the NT-bills secondary market closed on a positive note, as the average yield fell marginally by 0.01% to 17.66%. However, it was a quiet trading session at the secondary FGN Bond market, consequently, the average yield remained at 19.29%. Overall, the average yield in the Naira Fixed Income market stayed at 18.48%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024