Daily Market Update (Equities)
Today, the Nigerian equities market closed positive, as the NGX All Share Index (ASI) increased by 0.75% to 100.335.30 points. Consequently, the market’s year-to-date (YtD) returns printed at 34.19% (vs. Yesterday: 33.19% YtD). Gains in FBNH, Transnational Corp and Fidelity Bank offset the losses in Dangote Sugar, Zenith Bank and Ecobank.
Total volume traded increased (+33.19% to 554.72mn units), while total value traded (-9.11% to NGN17.73bn) closed lower. FBNH was the top performer in terms of volume while DANGSUGAR top performer in term of value.
DANGSUGAR, MTNN and NASCON were the highest gainers today, while GUINNESS, FTNCOCOA and TRANSCORP were the highest losers.
Daily Market Update (Fixed Income)
Today, the NT-bill secondary market closed on a negative note, as the average yield increased by 0.74% to settle at 18.30%. Likewise, the FGN bond market ended the day negative as the average yield went up by 0.66% to settle at 18.01%. Overall, the Naira Fixed Income market ended on a bearish note as the average yield increased by 0.70% to settle at 18.16%.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024