…The NTB secondary market traded with mixed sentiments, albeit with a bullish undertone, as the average yield pared by 1bp to 13.3%.
…The naira depreciated by 2.6% to NGN841.14/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
…NTB secondary market traded with mixed sentiments, albeit with a bullish undertone, as the average yield pared by 1bp to 13.3%.
THUR, NOV 16 2023-theGBJournal| The Nigerian equities market closed marginally higher as bargain hunting in NB (+5.3%) and MTNN (+0.2%) spurred a 2bps increase in the NGX ASI to 71,025.16 points.
Thus, the Month-to-Date and Year-to-Date returns printed +2.6% and +38.6%, respectively.
The total volume traded advanced by 62.7% to 483.85 million units, valued at NGN4.38 billion, and exchanged in 6,545 deals. REGALINS was the most traded stock by volume at 104.34 million units, while OANDO was the most traded stock by value at NGN676.64 million.
Sectoral performance was mixed, as the Banking (-0.4%) and Oil & Gas (-0.2%) declined, while the Consumer Goods (+0.3%) and Insurance (+0.2%) indices recorded gains. Meanwhile, the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.7x), as 32 tickers lost relative to 23 gainers.
ABCTRANS (-10.0%) and ETRANZACT (-9.9%) recorded the highest losses of the day, while NSLTECH (+10.0%) and DEAPCAP (+10.0%) topped the gainers’ list.
Meanwhile, the naira depreciated by 2.6% to NGN841.14/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate contracted by 8bps to 22.9%, in the absence of any significant inflows into the system.
The NTB secondary market traded with mixed sentiments, albeit with a bullish undertone, as the average yield pared by 1bp to 13.3%.
Across the curve, the average yield closed flat at the short and mid segments but contracted at the long (-1bp) end following demand for the 343DTM (-1bp) bill. Similarly, the average yield contracted significantly by 110bps to 14.7% in the OMO segment.
Elsewhere, proceedings in the FGN bond secondary market were quiet as the average yield closed flat at 15.9%.
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