Daily Market Update (Equities)
The Nigerian Equities market started the week on a positive note as the benchmark index rose by 1.45% to 68,111.71 points. As a result, its year-to-date (YtD) returns rose to 32.90% (vs. Friday’s YtD: 31.00%). The gains recorded in NNFM, CHAMS and UAC NG offset the losses incurred in Meyer, Abbey Mortgage Bank and Regency Alliance.
The Total Volume and Value traded for today are 430.39mn units and NGN8.25bn respectively. GEREGU traded the highest in terms of Value and CUSTODIAN traded the highest in terms of Volume.
Today, MEYER, ABBEYBDS and REGALINS topped the losers’ chart, while NNFM, NAHCO and JAPAULGOLD topped the gainers’ chart.
Daily Market Update (Fixed Income)
The NT-bills secondary market closed negative as the average yield surged by 3.78% to settle at 10.93%. Similarly, the FGN bond market closed bearish as average yield increased by 13bps to close at 15.00%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024