Nigerian Equities Market Advances as FBNH Lead Gainers, NGX All-Share Index Up 0.48%

The Nigerian Equities Market closed in the green on Tuesday as First Bank Holdings share price gained 9.98%. The NGX All-Share Index added 43bps to close trading at 71,250.17 points from 70,946.83 points. The YTD closed at 39.02%. Market Capitalization closed at N38.99 trillion.

UACN recorded over 61.710 million shares worth N947.41 million to top most traded stocks on Tuesday. It was followed by UBA which traded over 58.297 million shares, worth N1.24 billion. The third place was occupied by GTCO which traded over 22.997 million shares  worth N908.19 million.

Investors’ sentiment improved as the market breadth appreciated to close 2.5x from 0.78x. This was illustrated by the appreciation in the share prices of 40 stocks, led by NSLTECH (10.00%) and MULTIVERSE (9.95%), and the depreciation in share prices of 16 stocks, led by ABBEYBDS (-9.88%) and FTNCOCOA (-9.09%). Investors exchanged about 433.57 million shares worth N11.11 billion in 7,016 deals.

We expect improved activities in the equities market as investors take positions for end of the year dividend.

The Fixed Income Market

The Fixed Income Market recorded low activities on Thursday. While the FGN bond yield for 2 year, 3 years, 5 years and 10 years closed at 14.31%, 13.40%, 15.28%, and 16.31% respectively.

The yields on the 91 day paper, 182 day paper and 364 day paper closed at 5.04%, 8.85% and 11.78% respectively.

We expect seasonal inflationary pressure  and reduction in activities as the year winds up.

qNigerian Equities Market Closed Positive, NGX All-Share Index Shed Added 0.43%.

qThere was Mixed Outing Across the Bond Yield Curves 

Mixed Performance in Global Stocks

Brent Crude Closed  @ $78.50/barrel

African Stock Markets exhibited mixed sentiments

Naira Flat in the Parallel Market @ $1170/USD