Before it's here, it's on InfoWARE Market Data Terminal; Years of Fundamentals, Analytics and more... VSPBONDETF 83.15  FTNCOCOA 10.00  TIP 10.00  JULI 9.97  CHAMPION 9.94  PZ 9.93  TRANSCORP 9.93  ACCESSCORP 9.92  STERLINGNG 9.89  UPDC 9.85  BUACEMENT -10.00  CONOIL -10.00  MTNN -9.96  THOMASWY -9.78  SOVRENINS -6.52  MERVALUE -5.80  CORNERST -4.76  NASCON -3.94  FIDELITYBK -3.85  VETINDETF -3.07 
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Market Summary 06-12-2023
(Source: CardinalStone Research, Date: 06-Dec-2023)

Equities

 

Nigerian Banks inspire bullish close

Consolidating on yesterday's gains, the local bourse appreciated by 78bps. The lenders "” FBNH (+9.91%), ACCESSCORP (+9.04%), STANBIC (+5.60%), ZENITHBANK (+3.44%) and ETI (+9.88%) "” were instrumental to the market's positive momentum. These gains considerably outshone losses reported in OANDO (-9.13%), INTBREW (-5.33%) and TRANSCORP (-1.29%). Expectedly, market breadth closed positively at 1.57x.

 

On the activity scale, today's volume (+59.15%) and value (+8.88%) metrics inched higher. GTCO accounted for 11.21% of the 690.0 million units of shares traded, and 25.12% of the N12.1 billion worth of trade value. THOMASWY (+9.93%), and MANSARD (-9.69%), finished as the best and worst performers of the day, respectively

Positive outing for the banking index

 

Similar to the overall market performance which was predominantly driven by the aforementioned banking names, the banking sub-index led sectoral performance with a 5.01% improvement. Contrariwise, losses amassed in MANSARD (-9.69%), INTBREW (-5.33%) and WAPCO (-0.33%) lowered the Insurance (-2.00%), Consumer Goods (-0.11%) and Industrial Goods (-0.02%) sectors, respectively. Elsewhere, the Oil & Gas index closed unchanged.

 

Bonds

 

Bullish session for bonds

Investors cherry-picked attractive offers along the curve in the secondary bond market, as the average bond yield contracted by 2bps to close at 15.59%. Specifically, most demands were skewed to the APR-2037 bond paper, which caused yields on the note to decline by 31bps to 16.51%. 

 

Money market

The OPR and O/N advanced by 66bps and 68bps to close at 16.21% and 16.68%, respectively

Kindly click Daily_Market_Summary_06_12_23.xlsx (live.com) for the summary of activities in the market today

CardinalStone Research 



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