THUR 12 AUG, 2021-theGBJournal- The Nigerian equities market remained in positive territory as late interests in GTCO (+1.1%) led the All-Share Index to close 0.1% higher at 39,490.06 points. Consequently, Month-to-Date gain increased to 2.5%, while Year-to-Date loss moderated to -1.9%.
The total volume of trades increased by 214.3% to 570.20 million units, valued at NGN2.28 billion, and exchanged in 3,764 deals. HONYFLOUR was the most traded stock by volume and value at 384.07 million units and NGN654.16 million, respectively.
On sectors, the Insurance (-1.8%), Banking (-0.2%) and Oil & Gas (-0.2%) indices recorded declines, the Industrial Goods (+0.4%) index gained, while the Consumer goods index closed flat.
As measured by market breadth, market sentiment was negative (0.4x), as 21 tickers declined relative to 8 gainers. TRIPPLEG (-9.3%) and REGALINS (-8.5%) recorded the most significant losses of the day, while HONYFLOUR (+10.0%) and WEMABANK (+4.0%) topped the gainers’ list.
The naira depreciated by 0.1% to NGN411.67/USD at the I&E window but was flat at NGN515.00/USD in the parallel market.
The overnight lending rate dipped by 17bps to 17.3%, amid funding pressures from net NTB issuances (NGN104.84 billion).
At the NTB secondary market closed with bullish sentiments, as the average yield contracted by 9bps to 5.5%. Across the benchmark curve, average yield contracted at the short (-28bps) end following demand for the 63DTM (-44bps) bill. Conversely, average yield at the mid and long segments closed flat. Elsewhere, the average yield at the OMO segment remained unchanged at 7.7%.
Trading in the Treasury bond secondary market was bullish, as the average yield contracted by 8bps to 11.6%. Across the benchmark curve, average yield contracted at the short (-17bps) and long (-7bps) ends due to demand for the APR-2023 (-43bps) and APR-2049 (-50bps) bonds, respectively. Meanwhile, average yield was unchanged at the mid-segment.
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