The sectoral performance was majorly bullish as 4 out of the 5 sectors closing in the green zone. Insurance and Banking indices went up by 3.02% and 0.75% buoyed by gains in LINKASSURE (+9.26%), MANSARD (+7.83%) and ZENITH BANK (+2.03%). Equally, Consumer goods and oil & gas indices advanced by 0.30% and 0.06% following bargain hunting in FLOURMILL(+3.45%) and JAPAULGOLD(+9.46%). The industrial index, however, closed flat.
Investors’ sentiment measured by market breadth improves as 23 stocks advanced while only 16 stocks declined to indicate a 1.44x market breadth. Activity level was however negative as volume and value of transaction waned by 46.41% and 57.32% in that order.
The bond market closed on a muted note as the yield on short maturities advanced. Notably, yield on the FGN-APR-2023 advanced by 0.09% to close at 3.82% while Yield on FGN-JUL-2030 remain stable at 7.27%
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