…NAIRA depreciated by 0.1% to NGN386.00/USD at the I&E window
TUE, 03 NOV, 2020-theGBJournal-The local bourse rebounded today, following significant interest in DANGCEM (+5.6%). Thus, the All Share Index recorded its first gain in November, as it advanced by 0.8% to 30,733.47 points. Accordingly, Month-to-Date return (+0.7%) turned positive, as Year-to-Date gain increased to 14.5%.
The total volume of trades decreased by 10.8% to 336.09 million units, valued at NGN3.89 billion and exchanged in 5,575 deals. ZENITHBANK was the most traded stock by volume and value at 41.10 million units and NGN895.65 million, respectively.
On sectors, the Industrial Goods (+2.9%), Oil & Gas (+0.6%), Insurance (+0.3%) indices gained, while the Banking (-0.5%) and Consumer Goods (-0.1%) indices posted declines.
Market sentiment, as measured by market breadth, was positive (1.3x), as 24 tickers gained, relative to 18 losers. WAPIC (+10.0%) and ABCTRANS (+9.7%) topped the gainers list, while NPFMCRFBK (-8.8%) and CUSTODIAN (-7.4%) recorded the largest losses of the day.
Currency
The naira depreciated by 0.1% to NGN386.00/USD at the I&E window but closed flat at NGN463.00/USD in the parallel market.
Money Market & Fixed Income
The overnight lending rate contracted by 17bps to 0.8%, as OMO Bills maturities worth NGN224.45 billion came into the system.
Activities at the NTB secondary market were muted, as average yield was flat at 0.5%. Elsewhere, average yield contracted by 7bps to 0.4% at the OMO secondary market.
Trading at the Treasury bond secondary market was bullish today, as average yield contracted by 3bps to 4.2%. Across the curve, average yield contracted at the short (-2bps) and mid (-9bps) segments due to the demand for the JAN-2026 (-7bps) and JUL-2030 (-15bps), respectively; average yield was flat at the long end.-with Cordros Research
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