TUE 24 AUG, 2021-theGBJournal-The overnight lending rate contracted by 175bps to 15.8%, following inflows from OMO maturities (NGN157.27 billion).
The NTB secondary market closed with bearish sentiments, as the average yield expanded by 11bps to 4.8%. Across the benchmark curve, average yield expanded at the long (+25bps) end as investors sold off the 261DTM (+89bps) bill but stayed flat at the short and mid segments. Elsewhere, the average yield at the OMO segment remains unchanged at 6.0%.
At the fixed income market, trading in the Treasury bond secondary market was bullish, as the average yield contracted by 17bps to 11.1%. Across the benchmark curve, average yield contracted at the short (-36bps), mid (-12bps) and long (-6bps) segments following investors’ demand for the JAN-2026 (-67bps), MAR-2027 (-31bps) and MAR-2035 (-32bps) bonds, respectively.
Meanwhile, the Nigerian equities market reversed yesterday’s loss following investors’ interests in GTCO (+0.4%), DANGSUGAR (+0.8%) and WAPCO (+2.3%). Precisely, the All-Share Index inched higher by 0.1% to 39,460.68 points. Thus, Month-to-Date gain increased to +2.4%, while Year-to-Date loss moderated to -2.0%.
The total volume of trades declined by 6.9% to 196.81 million units, valued at NGN1.45 billion, and exchanged in 3,881 deals. COURTVILLE was the most traded stock by volume at 22.45 million units, while SEPLAT was the most traded stock by value at NGN289.45 million.
On sectors, the Insurance (-0.4%) and Oil & Gas (-0.2%) indices declined while the Industrial Goods (+0.1%), Banking (+0.1%) and Consumer Goods (+0.1%) indices recorded gains.
As measured by market breadth, market sentiment was negative (0.9x), as 18 tickers lost, relative to 16 gainers. FTNCOCOA (-9.1%) and COURTVILLE (-8.8%) recorded the most significant losses of the day, while MORISON (+10.0%) and REGALINS (+9.5%) topped the gainers’ list.
Currency
The naira appreciated by 0.2% to NGN411.00/USD at the I&E window but depreciated by 0.2% to NGN521.00/USD at the parallel market.
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