|Dear Valued Investor,|
The equity market inched up by 0.05% to extend its gaining streak to seven straight trading sessions.
The All Share Index closed with 39,319.75 points while market capitalization closed with
Today’s performance abates the year-to-date loss of the market to -2.36%.
The insurance index was the best performing index (0.21%)while The Oil & Gas index was the worst-performing index, down by -0.34%.
The market recorded 25 gainers as against 17 losers (Friday: 32 against 9). Transcorp and Wapic appreciated while Wemabank and PZ lost.
Another quiet day in the treasury bills market as yields across all maturities under our watch closed flat with the exception of 10-Mar-2022 maturity.
A slightly mixed session in the FGN bond market with underlining bearish sentiments, as sell interest persisted across the curve from players looking to reopen short positions.
Bids stayed elevated as market participants sought to fill orders at attractive levels. The 2027s, 2034s, 2045s and 2050s were actively traded.
We expect the lull in the treasury bills market to continue as players anticipate the NTB auction scheduled for Wednesday while bearish sentiments hold in the FGN bond market.