U.S and Nigeria Markets Snapshots Tuesday, December 5th, 2023

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Nigerian Markets

For Tuesday, the NGX All-Share Index bounced back from the previously bearish Monday, appreciating by +0.43% to close at 71,250.17 points. This positive momentum was mirrored in the NGX Growth Index, which gained +0.08%, and the NGX Premium Index, which emerged as the star performer with an impressive +0.88% increase. This positive momentum resulted in a market capitalization increase of N166 billion.

 

The NGX Banking Index performed best out of all sector indices, appreciating by +1.45%. This impressive performance was driven by gains in key banking players such as Access Holding Plc. (ACCESSCORP) up+6.32%, Jaiz Bank Plc. (JAIZBANK) up +1.92%, and Sterling Financial Holdings Plc. (STERLINGNG) up +1.64%.

 

In terms of trade volume UACN Plc. (UACN) took the lead with 61.71 million units traded, followed by United Bank for Africa Plc. (UBA) with 58.30 million units, and Guarantee Trust Holding Company Plc. (GTCO) with 23.00 million units.

 

U.S. Markets

On Tuesday, Dec. 5th, U.S. equities largely retreated for the second consecutive session this week, despite remaining near their highest levels in 20 months. This cautious trading pattern reflects investors’ efforts to assess the Federal Reserve's monetary policy path for 2024.

 

The release of the latest Job Openings and Labor Turnover Survey (JOLTS) yesterday played a key role in shaping investors' sentiment. The data revealed a drop in U.S. job openings to their lowest level since August 2021, suggesting an easing in the labour market as higher interest rates cool economic demand. Now, expectations for a U.S. rate cut of at least 0.25% in March 2024 have jumped to 64% from 35% in just one week.

 

The S&P-500 fell -0.06% and the Dow fell -0.22%. However, the tech-heavy Nasdaq-100 took a divergent position and rallied +0.24%. Top movers on the Nasdaq-100 index include Nvidia Inc. (NVDA) up by +2.33%, Palo Alto Networks Inc. (PANW) up by +2.15%, and Apple Inc. (AAPL) up by +2.11%.

 

Market Closing Performance for Tuesday, December 5th, 2023.

Nigerian Markets

Major Indices

Index

Last Close 

1-Day Change

NGX All Shares Index

71,250.17

+0.43%

NGX Growth Board Index 

6,628.97

+0.08%

 NGX Premium Board Index

6,854.72

+0.88%

NGX Oil and Gas 

1,047.07

+0.00%

NGX Banking

767.66

+1.45%

 

 

 

 

 

 

 

 

 

 

 Top Gainers

Company 

Ticker

Last Close 

 1-Day Change

Secure Electronic Tech. Plc.  

NSLTECH

₦0.77

+10.00%

Multiverse Mining and Exploration Plc.

MULTIVERSE

₦7.07

+9.95%

SFS Real Estate Investment Trust

SFSREIT

₦92.15

+9.93%

 

 

U.S Markets

Major Indices & Other Assets

 

Index

Last Close

1-Day Change 

S&P-500  

4,567.17

-0.06%

Dow Jones 

36,124.57

-0.22%

Nasdaq-100 

15,877.71

+0.24%

U.S. 10-Year Treasury Yield*  

4.195%

-0.96%

Brent (Oil)*

$77.21

-1.15%

Bitcoin*

$43,516.38

+4.28%

 

 

 

 

 

 



*Bitcoin is a continuously traded asset without a defined closing time. US10YR and Brent also have different trading hours. The price displayed here represents their values as of 8:00 am (GMT+1) on Wednesday, Dec. 6th.

Top Gainers

Company

Ticker 

Last Close 

 1-Day Change

Kala Bio Inc.

KALA

$8.91

+37.29%

Adit Edtech Acquisition

ADEX

$1.56

+19.43%

Travere Therapeutics Inc.

TVTX

$7.40

+17.65%

 

 

 

 

 

 

 

 

 

S&P-500's Top Gainers

Company 

Ticker

Last Close 

 1-Day Change

MarketAxess Holdings Inc.

MKTX

 $251.27

+5.33%

Discover Financial Services

DFS

$99.08

+4.58%

Alaska Air Group

 ALK

$35.57

+4.37%

 

 

 

 

 

 

 

 

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