Equities

The market gained 0.02%

The market started the week off positive, with the benchmark index gaining 0.02% to print at 102,370.36 points. Consequently, market capitalisation increased by N10.24 billion to settle at N62.86 trillion. The outturn was driven by gains in OANDO (+3.06%), FIDELITY (+3.41%) and TRANSCORP (+3.30%), which outweighed selloffs in ARADEL (-1.44%) and INTBREW (-2.78%). Market breadth also printed positive at 1.28x as 32 gainers outpaced 25 losers. CAVERTON (+10.00%) led the gainers, while EUNISELL (-9.99%) topped the laggards.

Market activities saw a surge in trade volume (+304.48%) and trade value (+49.62%) to settle at 1.3 billion units valued at N17.7 billion, respectively. UNIVINSURE topped the volume charts with 31.3 million units (2.36% of total volume) traded, while OANDO topped the value chart with trades worth N1.5 billion (8.39% of total value)

Mixed sectoral performance

The Insurance (+2.12%), Industrial Goods (+0.17%) and Banking (+0.12%) indices closed positive, driven by price upticks in WAPIC (+9.91%), WAPCO (+1.36%) and FIDELITY (+3.41%), respectively. While the Consumer Goods (-0.46%) and Oil and Gas (-0.11%) indices all closed negative as investors sold off INTBREW (-2.78%) and ARADEL (-1.44%). ARADEL (-1.44%) also drove a decline in the Commodity Index (-0.29%)

Bonds

At the secondary bond market, bearish sentiments persisted as sell-offs were observed at the short (+1bp) and mid-segment (+1bp) of the curve, specifically on the JUL-30 (+2bps) and FEB-31 (+3bps) papers. Consequently, average yields expanded by 1bp to settle at 20.07%.

Money market

Interbank rates"”OPR expanded by 5bps to settle at 32.38%, while the O/N closed flat at 32.75%.

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

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