Equities

ASI gains 75bps

The NGX posted a gain of 75bps to close today's trading session at 103,137.99 points. Consequently, investors gained N471.37 billion, bringing market capitalisation to N63.33 trillion. The drivers for today's strong positive performance were MTNN (+10.00%), GTCO (+1.72%) and TRANSCORP (+3.09%) which outweighed the negative impact of selloffs in OANDO (-2.70%) and NB (-1.72%). In the same vein, market breadth closed positive at 1.07x, with 29 gainers outnumbering 27 laggards. MTNN (+10.00%) topped the gainers log, while NSLTECH (-9.88%) led the laggards.

Trading activity dipped, as total volume traded declined by 66.79% to settle at 440.32 million units, while total value traded decreased by 32.24% to N11.97 billion. LASACO dominated the volume charts, trading 108.04 million units, which accounted for 24.54% of the total volume traded. On the value charts, MTNN led with transactions worth N1.63 billion, representing 13.63% of the total value traded.

Sectoral performance

Sectoral performance was mixed, with three indices closing in the green and two in the red. The Insurance (+1.03%), Banking (+0.30%), and Industrial Goods (+0.03%) indices saw gains driven by positive sentiments in AIICO (+6.21%), GTCO (+1.72%) and CAP (+8.52%). Conversely, the Consumer Goods (-0.38%) and Oil & Gas (-0.36%) index declined due to sell-offs in NB (-1.72%) and OANDO (-2.70%). Elsewhere, the commodity index closed flat. 

Bonds

At the secondary bond market, bearish sentiments persisted as sell-offs were observed at the short (+51bps), mid (+26bps), and long end (+16bps) of the curve, specifically on the MAR-26 (+262bps), APR-32 (+80bps), and MAR-35 (+139bps) papers. Consequently, average yields expanded by 34bps to settle at 20.42%.

Money market

Interbank rates"”OPR and O/N rates declined by 184bps and 175bps to settle at 30.54% and 31.00%, respectively.

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

CardinalStone Research 



Lagos Office: 5 Okotie Eboh Street 

                        South-West Ikoyi, Lagos

                        Nigeria

Abuja Office: 4 Misratah Street

                        Wuse II, Abuja, Nigeria

Tel: +234(1) 7100433, 7100434

Email: research@cardinalstone.com 

Website: www.cardinalstone.com  

---------------------------------------------------------------------------------------------------------------------------------

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