MON, 29 AUG, 2022-theGBJournal| Activities in the domestic equities market resumed the week with bearish sentiments as a loss in NB (-2.9%) undermined the market’s performance. Thus, the All-Share Index declined by 1bp to close at 49,676.75 points.
Accordingly, the Month-to-Date loss and Year-to-Date gain settled at -1.4% and +16.3%, respectively.
The total volume traded increased by 20.4% to 232.94 million units, valued at NGN2.19 billion, and exchanged in 4,425 deals. JAIZBANK was the most traded stock by volume at 40.42 million units, while ACCESSCORP was the most traded stock by value at NGN293.56 million.
Analysing by sectors, the Consumer Goods (-0.3%), Insurance (-0.3%), and Oil & Gas (-0.1%) indices closed in the red, while the Banking (+0.3%) index advanced. The Industrial Goods indices closed flat.
As measured by market breadth, market sentiment was positive (2.3x) as 18 tickers gained relative to 8 losers. TRANSEXPR (+9.5%) and UPDCREIT (+9.2%) topped the gainers’ list, while CAVERTON (-9.6%) and JOHNHOLT (-9.0%) recorded the most significant losses of the day.
The naira closed flat at NGN430.33/USD at the I&E window.
The overnight lending rate contracted by 367bps to 10.0%, in the absence of any significant funding pressure on the system.
Trading in the Nigerian Treasury Bills secondary market was mixed, albeit with a bullish tilt as the average yield pared by 1bp to 7.8%. Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments due to buying interests on the 45DTM (-1bp) and 164DTM (-1bp) bills, respectively; but was flat at the long end. Similarly, the average yield contracted by 1bp to 11.1% in the OMO segment.
The Treasury bond secondary market traded with bullish sentiments, as the average yield contracted by 3bps to 12.7%.
Across the benchmark curve, the average yield contracted at the short (-8bps) end as investors demanded the MAR-2024 (-35bps) bond, but closed flat at the mid and long segments.
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