- The Nigerian Equities market space was bearish for the most part of the week’s trading session, with Investors dumping stocks of companies with unimpressive earnings report. Consequently, the NGX ASI and Market Cap lost 0.27% respectively.
- Top five market advancers for the week include SEPLAT (20.25%), LINKAGE (16%), FCMB (11.8%), COURTVILLE (11.11%) and ASSOCIATED BUS COMPANY (9.37%), while top five market laggards include RT BRISCOE (-33%), LEARNAFRICA (-24%), NGX GROUP (-18%), NIGERINS (-17%), and CUTIX
- The local Fixed Income market, held on tight to some weeks of market bullishness, with yields declining by 20bps across all the curves. Market bullishness was also evidenced in the decline of number of discount bonds from four to two bonds. We envisage persistent bullishness this week, as excess subscription from OMO auction conducted by CBN during the week is expected to filter through the secondary market.