The Nigerian equities market closed the first trading session of the week in the green region, gaining 0.19%.
Similarly, in today’s trade market breadth index was positive with 16 gainers against 11 stocks that declined.
Today’s performance was driven by the gains in UNITYBNK (+9.09%), NEIMETH (+8.47%), MBENEFIT (+7.69%), CAVERTON (+7.61%), NEM (+5.42%), and HONYFLOUR(+2.13%) which more than offset losses in JOHNHOLT (-9.43%), GUINEAINS (-6.02%), AIICO (-5.66%) and PRESCO (-4.17%).
Sector performances were positive with Banking (+0.42%) emerging the best performer, followed by Consumer Goods (+0.09%) which also closed in green region. However, Oil & Gas and Industrial closed flat.
In terms of activity level, total volume and value decreased by 28% and 10% as investors exchanged 121million units of shares worth N1.34billion respectively. GUARANTY (+0.41%) was the most actively traded with 22million units of shares worth about N789million.
Despite the recent sell-off in the equities market in the previous weeks, we believe this presents decent entry opportunities in our quality names.
· At the IEFX window, while Naira shed 0.22% against USD to close at N364.61, it gained 0.27% and 0.33% against EUR and GBP to close at N415.91 and N473.43 respectively.
· In the parallel market, the Naira remained unchanged at N361/USD and NN478/GBP while it gained 0.48% against the EUR to close at N414.
· Going forward, we expect the FX market to continue to see support from CBN’s intervention sales.
· Money market rates declined today as the Overnight and Open Buy Back rates shed 1,192bps and 1,136bps to close at 10.58% and 9.50% respectively.
· The bond market was negative today as yields increased across most tenors. While the yield on the 7yr benchmark bond closed flat at 14.92%, the yields on the 5yr and 10yr benchmark bonds increased by 2bps and 8bps to close at 14.84% and 15.18% respectively.
· In the near term, we expect market activity to be influenced by liquidity levels and foreign investor participation.
Below are key NSE statistics as at the end of trades:
Mkt Cap (N’tr)
Vol. Traded (m)
Vol. Day Chng.
Val. Traded (N’bn)
Val. Day Chng.
No. of Deals
No. of Gainers
No. of Losers
Top Sub Sect. (by Vol.)
Top Sub Sect. (by Val.)
NASD Pricelist was not available as at the time of writing this report.