December 1, 2023/InvestmentOne Report
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EQUITY:
- The Nigerian equities market rose by 0.08% as the NGX-ASI closed at 71,419.87pts.
- In today’s trade, market breadth index was positive with 40 gainers against 27 losers.
- Today’s performance was positive as the gains recorded in IKEJAHOTEL (+10.00%), NEIMETH (+10.00%), UNITYBNK (+10.00%), OMATEK (+9.86%) and THOMASWY (+9.65%) outweighed the losses printed in SUNUASSUR (-10.00%), UACN (-9.76%), MCNICHOLS (-9.64%), CADBURY (-7.49%) and ROYALEX (-6.15%).
- Sectoral performance was neutral as the Banking (+1.14%) and Oil/Gas (+0.05%) sectors closed green while the Consumer Goods (-0.08%) and Industrial (-0.06%) sectors closed lower.
- In terms of activity levels, total volume and value decreased by 33% and 1% respectively, as investors exchanged about 361 million units of shares worth around N10.23 billion. UNIVINSURE (+8.00%) was the most actively traded stock with about 44 million units of shares worth about N12 million.
- The local bourse closed northwards today due to the gains seen in the Banking and Oil/Gas sectors. Going forward, we expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space. We reiterate that this may be a great period to pick up some quality names with a medium to long-term investment horizon.
CURRENCY:
- At the NAFEM window, the Naira weakened against the GBP, USD, and EUR by 0.21%, 0.10% and 6.42% to close at NGN999.40, N832.32 and NGN919.45, respectively.
- Going forward, we expect the FX market to be dictated by heightened dollar demand and CBN FX policies.
FIXED INCOME:
- Money market rates rose today as Open Buy Back and Overnight rates increased by 90bps and 78bps to close at 15.75% and 16.32% respectively.
- The bond market traded on a quiet note today as yields on most maturities remained unchanged across the curve. Hence, the yields on the 5yr, 10yr and 20yr benchmark bonds closed flat at 15.28%, 16.22% and 16.87% respectively.
- In the near term, we expect market activity to be influenced by liquidity levels and foreign investor participation.
Below are key NGX statistics as at the end of trades:
Current | 71,419.87 | Mkt Cap (N’tr) | 39.05 | |
Previous | 71,365.98 | Vol. Traded (m) | 361 | |
Day Change | 0.08% | Vol. Day Chng. | -33% | |
WTD Return | 0.27% | Val. Traded (N’bn) | 10.23 | |
MTD Return | 3.15% | Val. Day Chng. | -1% | |
YTD Return | 39.35% | No. of Deals | 5,640 | |
YTD High | 71,419.87 | No. of Gainers | 40 | |
YTD Low | 43,808.25 | No. of Losers | 27 | |
52wk High | 71,419.87 | Top Sub Sect. (by Vol.) | BNK (20%) | |
52wk Low | 47,656.64 | Top Sub Sect. (by Val.) | BNK (4%) |
