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 08-02-2024
(Source: CardinalStone Research, Date: 08-Feb-2024)

Equities

ASI plunged by 0.86%

 

Bearish sentiment persisted in the Nigerian equities market as the benchmark index declined by 0.86% to 101,227.42 points while market capitalisation lost N480.78 million, closing at N53.39 trillion. This outturn was caused by sell-offs in ample stocks like DANGSUGAR (-8.61%), STANBIC (-7.69%), TRANSCORP (-9.45%), WAPCO (-7.38%), ACCESSCORP (-3.58%), and ZENITHBANK (-2.17%). Market breadth was negative at 0.13x with 7 gainers and 53 losers.

 

Trade metrics improved as volume and values traded went up by 39.91% and 11.97% to 478.38 million units and N7.172 trillion, respectively. ZENITHBANK led the value chart, constituting 10.9% of value traded, while UNIVINSURE led volume charts at 8.5% of total volume.

 

 

All sectors de-buffed

 

Bearish sentiments saturated across sectors, with the Insurance sector (-4.19%) leading the train, followed by Banking (-2.33%), Consumer Goods (-1.90%), Oil & Gas (-0.49%) and Industrial Goods (-0.30%) sectors on the back of selloffs in AIICO (-9.92%), ACCESSCORP (-3.58%), DANGSUGAR (-8.61%), OANDO (-8.82%)and WAPCO (-7.38%) respectively.

Bonds

 

Average yields grew by 27bps

 

The bond market appeared bearish at the short end (+108bps) of the yield curve as selloffs were dominant in the Mar-2024 (+649bps) instrument. Overall average yield went up by 27bps to 15.58%.

 

Money market

 

In the money market, the O/N and OPR rate increased by 542bps and 596bps to 24.5% and 25.79%, respectively. 

 

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