Limited bond market activity signals investor caution
Published by
Samuel Bolaji
On July 16, 2024, the Nigerian capital markets experienced a day of varied trading activities across multiple sectors. The following is a detailed breakdown of the key movements in the equity and bond markets.
Mining and Services
Mining Services saw 5 trades with a volume of 10,915 shares.
Thomas Wyatt Nigeria PLC in the Paper/Forest Products sector maintained a stable price at N2.16 with a market cap of N855.36 million, recording 3 trades and a volume of 3,850 shares.
Oil and Gas Sector
Japaul Gold & Ventures PLC fell by 2.04 per cent to N1.92, with a market cap of N12,024.39 million, handling 72 trades and a volume of 3,458,102 shares.
Oando PLC decreased by 1.87 per cent to N16.00, with a market cap of N198,902.60 million, with 175 trades and a volume of 3,416,094 shares.
Conoil PLC remained stable at N136.95, with a market cap of N95,036.74 million, conducting 39 trades and a volume of 31,852 shares.
Eterna PLC dropped by 4.44 per cent to N17.20, with a market cap of N22,431.29 million, accounting for 41 trades and a volume of 696,121 shares.
TotalEnergies Marketing Nigeria PLC held steady at N388.90, with a market cap of N132,040.04 million, recording 60 trades and a volume of 44,430 shares.
Services Sector
Medview Airline PLC showed no trading activity, maintaining its price at N1.62 with a market cap of N15,796.05 million.
Red Star Express PLC in the Courier/Freight/Delivery sector saw a significant drop of 9.82 per cent to N3.95, with a market cap of N3,769.97 million, recording 40 trades and a volume of 1,271,558 shares.
Debt Market Overview
The bond market saw limited activity with the following highlights:
7.143 per cent FGN FEB 2030 maintained a price of N100.00 with no trades recorded.
7.50 per cent BUA JAN 2027 held steady at N100.00, also with no trades.
Overall, the bond market recorded only 3 trades with a total volume of 58,272 units.
The Nigerian capital markets showed a mix of stability and declines across various sectors, with notable decreases in the oil and gas sector and the services sector. The bond market remained relatively inactive, reflecting investor caution.
Samuel Bolaji
Samuel Bolaji, an alumnus/Scholar of the Commonwealth Scholarship Commission, holds a Master of Letters in Publishing Studies from the University of Stirling, Scotland, United Kingdom, and a Bachelor of Arts in English from the University of Lagos, Nigeria. He is an experienced researcher, multimedia journalist, writer, and Editor. Ex-Chief Correspondent, ex-Acting Op-Ed Editor, and ex-Acting Metro Editor at The PUNCH Newspaper, Samuel is currently the Editor at Arbiterz.
