Nigeria Bonds Yield Rises 97bps to 14.8% - MarketNews

Bulls stage comeback into the Nigerian Exchange (NGX), gaining N902 billion after two days bloodbath that plunged return downward. The equity market on Thursday rebounded by 1.63 per cent as the number of gainers (53) greatly outweighed that of losers (18)

Equities investors showed interest in Tier-one banks and BUA Cement amidst the ongoing earnings festival in the local bourse.  Today, market capitalisation which opened at N55.357 trillion, closed at N56. 259 trillion, adding N902 billion.

Data form the Nigerian Exchange showed that All-Share Index also rose by 1,643.79 points or 1.63 per cent to settle at 102,802.25, compared with 101,158.46 recorded on Wednesday.

The major toast for investors today includes stocks such as CAVERTON, CHAMS, GTCO, VERITASKAP and NASCON with positive share price movements hovering at a maximum allowable daily gain.

As a result, the Year-To-Date (YTD) return increased to 37.48 per cent. Also, the market breadth closed positive with 52 advancing stocks outnumbering 16 declining ones. Banks Face Risks over 24hrs FX Positions Sell Down

On the gainers’ table, Caverton, Chams Plc, Guaranty Trust Holding Company (GTCO) and Veritas Kapital Assurance led in percentage terms of 10 each to close at N1.87, N2.64, N40.70 and 66k per share respectively.

National Salt Company (NASCON), followed with a gain of 9.98 per cent to close at N67.75 per share respectively. Conversely, Deap Capital Management and Trust (DeapCap) led the losers’ table by 9.88 per cent to close at 73k.

Computer Warehouse Group (CWG) trailed by 9.87 per cent to close at N6.85, RTBriscoe shed 9.86 per cent to close at 64k per share.

University Press Plc lost 9.76 per cent to close at N3.33, while SUNU Assurances declined by 9.29 per cent to close at N1.66 per share.

Analysis of the market activities indicated that trade turnover settled lower to the previous session, with the value of transactions up by 45.96 per cent.

A total of 861 million shares valued at N12.16 billion were exchanged in 12,851 deals as against 749.13 million shares valued at N22.49 billion were exchanged in 14,092 deals.

Meanwhile, Universal Insurance Plc led the volume chart with 113.76 million shares traded at N42.51 million, followed by Transcorp by 91.02 million shares worth N1.16 billion.

Zenith Bank sold 74.31 million shares at N2.76 billion, while United Bank of Africa (UBA) traded 69.18 million shares valued N1.72 billion and Veritas Kapital Assurance sold 58.73 shares worth 35.95 million.

Sectoral performance closed in green. The Banking sector led the gainers with a 7.82% increase, fueled by buy interest in the top banks such as ZENITHBANK, ACCESSCORP, UBA, GTCO and FIDELITY.

The Consumer Goods sector followed suit with a substantial increase of 4.37%, particularly driven by DANGSUGAR, HONEYFLOUR, CADBURY and BUAFOODS. The Insurance, Oil/Gas and Industrial indexes posted gains of 2.18%, 0.02% and 0.35%, respectively. #Nigerian Bourse Rebounds with N902bn Daily Gain