Equities market up by 0.04%

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Key performance indicators on the Nigerian Stock Exchange (NSE) closed on Tuesday with a marginal growth of 0.04 per cent.

The market capitalisation increased by N6 billion or 0.04 per cent to close at N15.408 trillion compared with the N15.402 trillion recorded on Monday while the All-Share Index, which opened at 43,056.51, rose by 16.94 points or 0.04 per cent to close at 43,073.45.

Nestle led the gainers’ table by adding N20 to its opening value to close at N1,400 per share. It was followed by Mobil Oil with a gain of N8.70 to close at N183.70, while Dangote Cement recorded a gain of N3.40 to close at N268.40 per share.

Total added N2.90 to close at N249, while Guinness appreciated by 80k to close at N99.80 per share.

On the other hand, Unilever recorded the highest loss to lead the losers’ chart, dropping by N3 to close at N57.80 per share.

GlaxosmithKline trailed with a loss of N1.10 to close at N20.90, while Dangote Sugar Refinery depreciated by N1.05 to close at N22.30 per share.

NASCON declined by N1 to close at N22, while Zenith International Bank shed 55k to close at N30.45 per share.

The volume of shares traded closed lower with an exchange of 407.96 million shares worth N6.12 billion transacted in 5,247 deals in contrast with 831.39 million shares valued at N10.57 billion achieved in 5,651 deals on Monday.

Zenith Bank emerged the toast of investors, accounting for 70.26 million shares worth N2.19 billion. It was followed by FBN Holdings having accounted for 53.02 million shares valued at N605.31 million, while Mansard Insurance traded 50.36 million shares worth N137.48 million.

United Bank for Africa exchanged 27.38 million shares valued at N336.15 million, while Skye Bank traded 19.07 million shares worth N16.93 million.

Analysts at InvestmentOne Securities said, “Going forward, we could see the market remain volatile as investors continue to react and take positions during the current earnings season. Nonetheless, we opine that downtrends in the market could present an entry opportunity for investors with a medium to longer term horizon.”

However, Naira trading at the Investors & Exporters Foreign Exchange ( & E Fx) window, the Naira gained 0.05per cent against the Dollar to close at N360.28, while it shed 0.68per cent against the Pound and Euro to close at N502.22 and N445.47 respectively. The Naira remained unchanged at N362/Dollar , N502/Pound and N444/Euro at the parallel market.

The Open-Buy-Back and Overnight rates shed 417basis points and 458basis points to close at 13.67per cent and 14.67per cent respectively.

The bond market was bullish today as yields decline across most maturities. While the yield on the 7yr bond closed flat at 13.71per cent, the yield on the 5yr and 10yr benchmark bonds shed 32basis points and three basis points to close at 13.39per cent and 13.63per cent respectively.

There will be treasury bills auction tomorrow where Central Bank of Nigeria (CBN) will offer N9billion, N47billion and N38billion for the 91-day, 182-day and 364-day bills respectively.

In the near term, we may see activity levels remain influenced by liquidity levels, as N262billion worth of OMO bills would be maturing on Thursday with CBN redeeming N95.71billion out of the matured Treasury Bills on the same day.

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