MON. 20 FEB, 2023-theGBJournal| The Lagos bourse rebounded Monday after the previous sessions pullback as the benchmark Index gained 0.78% to close at 54,224.35 points. Renewed interest in telco heavyweight, AIRTELAFRI (+3.85%) pushed the broader index into positive territory.
Consequently, the year-to-date (YTD) return rose to 5.80%, while market capitalization gained N228.74bn to close at N29.54trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 46.21%. A total of 154.63m shares valued at N5.51bn were exchanged in 3,095 deals. GTCO (-0.20%) led the volume chart with 36.68m units traded while AIRTELAFRI (+3.85%) led the value chart in deals worth N2.94bn.
Market breadth closed negative at a 1.44-to-1 ratio with declining issues outnumbering advancing ones. VITAFOAM (-7.18%) topped twelve (12) others on the laggard’s log while CONOIL (+9.93%) led eight (8) others on the leader’s table.
Meanwhile, activities in the Treasury bills secondary market were quiet, as the average yield remained at 4.0%. Similarly, the average yield was unchanged at 3.8% in the OMO segment.
The Nigerian bonds secondary market traded with mixed sentiments, but with a bearish tilt, as the average yield expanded slightly by 1bp to 13.0%.
Across the benchmark curve, the average yield expanded at the short (+2bps) end following the sell-off of the MAR-2025 (+27bps) bond but was flat at the mid and long segments.
At the currency market, the naira depreciated by 0.1% to NGN461.50/USD at the I&E window while he overnight lending rate expanded by 7bps to 17.9%, in the absence of any significant outflow from the system
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