Equities

ASI gains 37bps

The benchmark index inched up by 0.37% to close at 96,924.86 points stemming from renewed positive sentiment in ARADEL (+10.00%), OANDO (+7.03%) and CONOIL (+10.00%), which outweighed selloffs in tier-1 banks - UBA (-1.74%) and FBNH (-1.45%). As a result, market capitalisation increased by N216.83 billion to close at N58.73 trillion. Market breadth was positive at 1.63x (26 gainers vs 16 laggards). CONOIL (+10.00%) led the gainers in today's session, while TANTALIZER (-6.25%) led the losers.

In terms of trade metrics, volume (+77.95%) and value (+64.10%) traded advanced to 744.54 million and N16.48 billion, respectively. JAPAULGOLD topped the volume chart with 105.93 million units sold, while JBERGER topped the value charts with deals worth N4.55 billion. 

Bullish Sectoral Performance

The Insurance (+1.84%), Oil & Gas (+1.77%), Industrial Goods (+0.02%) and Consumer Goods (+0.01%) indices closed up from buy interests in CONHALL (+9.66%), OANDO (+7.03%), WAPCO (+0.39%) and HONYFLOUR (+0.94%), respectively. Elsewhere, the Banking (-0.38%) index closed bearish due to selloffs in UBA (-1.74%).

Bonds

The FGN secondary bond market experienced a bullish session, with buying activity concentrated at the short end (-16bps) of the curve, effectively masking the bearish activity at the mid-segment of the curve (+4bps). As a result, average yields declined by 5bps to close at 19.41%.

Money market

Interbank rates"”OPR increased by 13bps to print at 32.03%, while the O/N rate closed flat at 32.53%.

Kindly click here for the summary of activities in the market today.

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