Equities Market Contract…ASI Went down by 12bps

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

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

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