Equities

The ASI slips 0.20% WoW

Nigerian equities concluded the week in the negative territory, with the benchmark index closing 20bps lower to print at 97,236.19 index points. Market capitalisation also shed a total of N118.40 billion WoW to settle at N58.92 trillion. Sell pressures in heavyweight counters like TRANSCORP (-4.04% WoW), MTNN (-3.43% WoW), and AIRTELAFRI (-1.96% WoW) were responsible for the market's downturn in the week, eclipsing an ARADEL (+8.91% WoW) comeback in the week's latter trading sessions.

In today's market rendition, the ASI advanced 32bps, predominantly driven by renewed interest in ARADEL (+10.00%). However, trade metrics weakened as total volume (-35.67%) and value (-42.82%) declined to 478.94 million and N9.42 billion, respectively. STERLINGNG topped the volume chart, with 119.35 million units traded. On the other hand, ARADEL led the value charts with trades worth N1.43 billion, traded. At the close of the market, ARADEL (+10.00%) emerged as the best-performing counter, while the paint manufacturer - MEYER (-9.98%), led the laggards.

Bullish sectoral performance in the week

Sectoral performance in the week was predominantly bullish, with four (out of five) sectors recording positive returns. The Oil & Gas (+5.43% WoW) index led the pack following strong demand in CONOIL (+37.35% WoW). Similarly, the Banking (+2.81% WoW), Insurance (+0.11% WoW), and Consumer Goods (+0.02% WoW) indexes edged higher on the back of buying interest in ACCESSCORP (+11.54% WoW), CONHALLPLC (+14.86% WoW), and PZ (+13.41% WoW), respectively. However, the Industrial Goods (-0.02% WoW) index lost some value following selloffs in BETAGLAS (-4.96% WoW).

In today's session, sectoral performance was largely bearish. The Banking (-0.16%), Insurance (-0.10%), Industrial Goods (-0.02%) and Consumer Goods (-0.01%) indexes depreciated due to sell pressures in ZENITHBANK (-2.33%), CORNERST (-4.60%), BETAGLAS (-4.96%), and HONYFLOUR (-1.40%), respectively. Conversely, the Oil & Gas (+1.37%) index closed higher on the back of buy interests in CONOIL (+9.94%).

Bonds

Quiet session at the bond market

In the secondary market, the average yield on the FGN Bonds closed flat at 19.41%.

Money market

Interbank rates "" OPR and O/N "" slipped by 8bps and 5bps to 31.95% and 32.48%, respectively.

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

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