…The Nigerian Treasury bills secondary market traded quietly, as the average yield was unchanged at 6.9%.
…Treasury bond secondary market were mixed, albeit with a bullish bias
MON, OCT 23 2023-theGBJournal|Trading activities in the local bourse carried on last week’s bearish performance, as sell pressures on DANGSUGAR (-3.9%) and GTCO (-0.9%) triggered a 0.1% decline in the All-Share Index to 66,876.92 points.
Accordingly, the Month-to-Date and Year-to-Date returns printed +0.8% and +30.5%, respectively.
The total volume traded increased by 52.8% to 314.62 million units, valued at NGN4.39 billion, and exchanged in 6,133 deals. UBA was the most traded stock by volume at 47.15 million units, while GTCO was the most traded stock by value at NGN959.25 million.
Performance across sectors was mixed, as the Insurance (+0.7%) and Banking (+0.4%) indices advanced while the Industrial Goods and Oil & Gas indices closed flat. The Consumer Goods (-0.3%) index was the sole loser of the day.
As measured by market breadth, market sentiment was positive (1.1x), as 23 tickers gained relative to 21 losers. THOMASWY (+9.9%) and ACADEMY (+9.7%) recorded the highest gains of the day, while VFDGROUP (-10.0%) and MCNICHOLS (-9.7%) topped the losers’ list.
The naira appreciated by 1.9% to NGN793.34/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate contracted by 30bps to 2.5%, in the absence of any significant inflow into the system.
The Nigerian Treasury bills secondary market traded quietly, as the average yield was unchanged at 6.9%.
Across the curve, the average yield closed flat at the short and mid segments but contracted at the long (-1bp) end following mild interest in the 339DTM (-1bp) bill. Elsewhere, the average yield declined by 1bp to 12.1% in the OMO segment.
Activities in the Treasury bond secondary market were mixed, albeit with a bullish bias, as the average yield pared by 1bp to 14.4%.
Across the benchmark curve, the average yield contracted at the short (-6bps) end as investors demanded the MAR-2024 (-26bps) bond but expanded at the long (+1bp) end following profit-taking on the JUN-2053 (+8bps) bond. Meanwhile, the average yield was unchanged at the mid segment.
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