Resources

Careers
resources

Market News

[27-Sep-2021]
Gain in Okomu Oil, Others Lift Stock Market as NGX-ASI Closes Positive by 23bps
The Nigerian equities market closed the trading week last Friday on a positive note as the Nigerian Exchange Limited (NGX) All Share Index or ASI rose by 0.23 per cent to close at 38,962.28pts.

Similarly, the NGX-ASI closed up by 0.05 per cent week-to-date (WTD).

At the close of trade last Friday, market breadth index was positive with 25 gainers against 11 losers.

The day’s performance was mainly due to the gains recorded in PHARMDEKO Plc (+9.74%), Sovereign Insurance Plc (+8.70%), Okomu Oil Plam Plc (+5.77%), Eterna Oil Plc (+4.95%) and Champion Breweries Plc (+4.71%) which offset the losses recorded in SCOA Plc (-9.38%), PRESCO Plc (-8.18%), Regal Insurance Plc (-6.38%), Total Nigeria Plc (-3.61%) and Sterling Bank Plc (-1.34%).

Sector performances were positive with the Banking (+1.86%), Consumer Goods (+0.06%) and Oil & Gas (+0.04%) sectors closing positively, while the Industrial sector closed flat.

In terms of activity levels, total volume and value jumped by 404 per cent and 409 per cent respectively as investors exchanged about 633million units of shares worth about N6.45billion. FBN Holdings Plc was the most actively traded stock with about 482million units of shares worth about N3.61million.

The equities market closed up last Friday due to the gains recorded across most sectors.

Going forward, analysts expect investor’s sentiments to be swayed by the search for real positive returns and developments in the interest rate space.

They reiterated that this may be a great period to pick up some quality names with a medium to long-term investment horizon.

In the fixed income market, money market rates decreased as Open Buy Back and Overnight rates rose by 100bps and 125bps to close at 16.00 per cent and 17.25 per cent respectively.

The bond market traded on a quiet note, although yields fell on some maturities. We witnessed the yields on the 5yr and 7yr benchmark bonds close flat at 10.31 per cent and 11.60 per cent respectively, while the yield on the 10yr bond closed down by 4bps at 12.02 per cent.
“In the near term, we expect market activity to be influenced by liquidity levels and foreign investor participation, “said analysts at Investmentone Limited.




Source:© Copyright This Day Online
[2021-09-27] 
Gain in Okomu Oil, Others Lift Stock Market as NGX-ASI Closes Positive by 23bps