Equities

ASI closed bullish WoW

The local bourse closed the week on a bullish note, as the All-Share index increased by 0.99% WoW to 102,133.30 points. The positive outturn stemmed from renewed interest in MTNN (+10.54% WoW) alongside positive sentiments in INTBREW (+11.00% WoW) and FBNH (+4.85% WoW). The YtD market return rose to 36.59%.

However, in today's trading session, profit-taking actions amidst the lending tickers - UBA (-4.03%), ACCESSCORP (-2.83%), GTCO (-1.64%) and FIDELITYBK (-2.00%) resulted in a 0.05% decline in the ASI's performance. Consequently, investors lost N31.97 billion at the end of today's trading session, with market capitalization settling at N61.91 trillion. Market breadth, however, was positive at 2.00x, with 36 gainers outpacing 18 laggards. UNIVINSURE (+10.00%), UPL (+10.00%) and WAPIC (+10.00%) led the gainers, while HONYFLOUR (-9.09%) led the laggards.

Trade metrics diverged as volumes increased by 4.62% to 451.73 million units, while trade turnover declined by 4.24% to N17.49 billion. UBA led the volume chart, with 41.73 million units traded, while SEPLAT led the value chart, with N3.08 billion worth of trades at the close of the session.

Bullish sectoral performance

Sectoral performance was mostly bullish over the week, with the Insurance (+7.87% WoW), Consumer Goods (+3.13% WoW), Banking (+1.97% WoW), and Industrial Goods (+0.09% WoW) indices closing in green, driven by gains in SUNUASSUR (+20.03% WoW), INTBREW (+11.00% WoW), FBNH (+4.85% WoW) and WAPCO (+0.73% WoW), respectively. The Oil & Gas (-0.12% WoW) index was the sole loser for the week, dragged by selloffs in OANDO (-3.09% WoW).

In the day's session, the Insurance (+2.31%), Consumer Goods (+0.15%) and Industrial Goods (+0.01%) indices all closed in the positive territory on account of price appreciations in SUNUASSUR (+9.23%), PZ (+9.43%) and SKYAVN (+9.93%), respectively. Elsewhere, the Banking (-1.16%) and Oil & Gas (-0.21%) indices closed lower due to selloffs in UBA (-4.03%) and ETERNA (-5.00%), respectively.

Bonds

Activities in the bond secondary market were quiet, with some bearish tone observed at the short (+1bp) end of the curve. Consequently, the average yield inched up by 1bp, settling at 19.75%.

Money market

The OPR and O/N rates declined by 33bps and 47bps, respectively, to close at 26.50% and 27.11%, respectively. 

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

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