Equities Market Contract…ASI Went down by 12bps

Date:

Local bourse traded on a bearish note today as the southward movement was witnessed across insurance tickers.

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The benchmark All Share Index (ASI) declined by 12bps to close at 41,099.15 with market capitalization losing N25.41bn to settle at N21.50tn.

In summary, the Year-to-Date (YtD) performance moderated to 2.06%. The Breakdown across different sectors indicates a negative performance with 3 out of the 5 sectors under coverage closing southward.

Insurance, banking and consumer goods indices went down by 6.70%, 0.23% and 0.30% following losses recorded in PRESTIGE (-10.00%), MANSARD (-9.80%), GUARANTY (-0.15%) and CADBURY (-9.72%).

The oil and gas and industrial indices however advanced by 0.15% and 0.27% on the back of buy interest in ARDOVA(+3.54%) and WAPCO(+5.47%).

Investors’ sentiment was also negative as 14 stocks advanced while 50 stocks declined to indicate a 0.28x market breadth.

Market activity level was however positive as both volume and value of transactions advanced by 72.61% and 38.72% respectively.

Fixed Income Market
The bond market continued on a bearish note with yield compressing marginally on short-dated maturities while that of long maturities increases.

Notably, the yield on the FGN-JUL-2030 advanced by 0.03% to 8.38%

Treasury bills market traded on a mixed note as yield remained stable across the 91-day and 182-day maturities while that of 364-day compressed by 0.14% to settle at 0.91%.

OBB and OVN rate increases by 0.50% and 0.08% to settle at 1.00% and 1.08% respectively.

Market Snapshot

Equities Market Contract…ASI Went down by 12bps

The bond market traded on a bearish note as yield advanced on long maturities
U.S. Stocks Fluctuates amid earnings surprises

Oil Slips With Virus-Driven Demand Risks at Forefront

Naira was stable against the USD at the parallel market to close at N475/$

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