Equities

ASI declined by 0.68%

The Nigerian equities market had a bearish outing today with the ASI losing 68bps to settle at 103,851.88 points. Dividend markdowns in ZENITHBANK (-3.93%) and GTCO (-1.58%), alongside selloffs in CUSTODIAN (-5.62%) and OANDO (-0.92%), contributed to the negative outturn for the session. Consequently, market capitalisation printed lower, losing N445.0 billion to settle at N65.3 trillion. Overall, today's trading session produced 25 gainers and 19 losers, implying a market breadth of 1.32x. ABBEYBDS (+9.99%) led the gainers' list for the third consecutive session in a row, while IMG (-10.00%) led the laggards.

On the other hand, trade metrics diverged, with total volume declining by 4.64%, while total value increased by 26.12%. The total volume traded closed at 351.7 million units, valued at N13.7 billion. ACCESSCORP led in traded volumes, with 68.2 million units (19.39% of total volume traded). GEREGU, on the other hand, topped the value chart with N5.14 billion (37.47% of total value traded), following crosses totalling 5.0 million units at N1,027.40.

Sectoral Performance

Sentiment in the Insurance (+0.80%) and Consumer Goods (+0.34%) indices remained positive, supported by price appreciations in WAPIC (+4.36%) and NB (+2.65%), respectively. However, the Banking (-4.67%) index closed lower as a result of dividend markdowns and sell pressures in ZENITHBANK (-3.93%) and GTCO (-1.58%), while the Oil and Gas (-0.05%) index declined due to selloffs in OANDO (-0.92%).

The Industrial Goods and Commodity indices, however, closed flat.

Currency

The Naira appreciated at the CBN NFEM window by 1.66% to close at N1,599.00/$. However, in the parallel market, the Naira stayed flat at N1,620.00/$.

Fixed Income

In the FGN Bond market, we observed a quiet session as yields remained largely unchanged, barring the MAY-33 (-17bps) paper. Consequently, average yield on FGN Bonds moderated by 1bp to close at 19.06%.

For bills, bearish sentiments were observed on the long end of the curve, specifically on the 11-Dec (+75bps) and 19-FEB (+67bps) bills.

Money market

The OPR and OVN increased by 9bps each, to settle at 26.67% and 27.13%, respectively.

NASD OTC Exchange

At the NASD OTC Exchange today, the NSI and market capitalisation closed flat at 3,271.02 points and N1.92 trillion, respectively. Also, activity metrics dipped, with total volume and value traded decreasing by 95.01% and 83.62% to print at 36.8 thousand units and N2.0 million, respectively.

There were no gainers and losers in today's session.

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

CardinalStone Research 



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CardinalStone is an investment management firm located in Nigeria and registered with the Securities and Exchange Commission (SEC).