THUR 02 DEC, 2021-theGBJournal- The domestic bourse extended yesterday’s loss as investors sold off MTNN (-1.1%), GTCO (-0.4%) and ZENITHBANK (-1.9%). Thus, the All-Share Index declined by 0.5% to 42,247.98 points.
Accordingly, Month-to-Date loss increased to -2.3% while Year-to-Date gain moderated to +4.9%.
The total volume of trades declined by 3.4% to 324.02 million units, valued at NGN5.29 billion, and exchanged in 4,706 deals. FBNH was the most traded stock by volume and value at 113.36 million units and NGN1.35 billion, respectively.
Analysing by sectors, the Oil and Gas (-3.5%), Insurance (-2.2%), Banking (-1.2%) and Industrial Goods (-0.1%) indices declined, while the Consumer Goods (+0.1%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was negative (0.5x), as 31 tickers declined, relative to 16 gainers. BOCGAS (-10.0%) and TRANSEXPR (-9.0%) recorded the most significant losses of the day, while MEYER (+10.0%) and NEM (+7.3%) topped the gainers’ list.
Overall, 16 stocks posted gains while 31 stocks declined.
The naira appreciated by 0.1% to NGN414.80/USD at the I&E window.
The overnight lending rate contracted by 25bps to 15.5% in the absence of any significant funding pressure on the system.
The NTB secondary market traded with bullish sentiments, as the average yield declined by 29bps to 4.5%. Across the benchmark curve, the average yield was unchanged at the short end but contracted at the mid (-55bps) and long (-47bps) segments following demand for the 98DTM (-135bps) and 189DTM (-171bps) bills, respectively. Elsewhere, the average yield at the OMO segment remained flat at 5.5%.
Trading in the Treasury bond secondary market continued with mixed sentiments as the average yield was unchanged at 11.3%.
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