MON 27 SEPT, 2021-theGBJournal- The domestic bourse started the week’s trading with negative sentiments as profit-taking activities witnessed in BUACEMENT (-2.9%), and UBA (-0.7%) undermined the market’s performance. Thus, the All-Share Index declined by 0.3% to 38,864.33 points. Accordingly, Month-to-Date and Year-to-Date losses increased to -0.9% and -3.5%, respectively.
The total volume of trades decreased by 78.0% to 139.45 million units, valued at NGN1.71 billion, and exchanged in 3,539 deals. SOVRENINS was the most traded stock by volume at 19.08 million units, while MTNN was the most traded stock by value at NGN465.05 million.
Analysing by sectors, the Oil & Gas (+1.2%), Banking (+0.4%), and Consumer Goods (+0.2%) indices gained, while the Insurance (-2.3%) and Industrial Goods (-1.1%) indices declined.
As measured by market breadth, market sentiment was positive (1.6x), as 19 tickers gained, relative to 12 losers. UPL (+9.8%) and TRANSCOHOT (+9.7%) topped the gainers’ list while MANSARD (-9.9%) and CHAMS (-4.4%) recorded the most significant losses of the day.
Currency
The naira was flat at NGN414.83/USD at the I&E window.
Money Market & Fixed Income
The overnight lending rate contracted by 125bps to 16.0%, in the absence of any significant funding pressures on the system.
The NTB secondary market was flat, as the average yield remained unchanged at 5.6%. Similarly, the average yield at the OMO segment closed flat at 6.4%.
Trading in the Treasury bond secondary market was bullish, as the average yield contracted by 8bps to 11.0%. Across the benchmark curve, average yield contracted at the short (-26bps) and mid (-20bps) segments due to investors’ demand for the JAN-2026 (-34bps) and FEB-2028 (-37bps) bonds, respectively; the average yield expanded at the long (+11bps) end as investors sold off the JUL-2045 (+53bps) bond.
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