FRI. 16 DEC, 2022-theGBJournal| Nigerian equities extended the bullish run as the benchmark index Thursday gained 0.50% to settle at 49,233.02 points, the highest point since 21 September.
Gains in MTNN (+2.88%), ZENITHBANK (+2.17%) and WAPCO (+2.05%) kept the market in the positive territory, offsetting losses in GTCO (-1.91%), FBNH (-0.46%) and GEREGU (-8.11%).
Consequently, the ASI’s year-to-date (YTD) return rose to 15.26%, while the market capitalization gained N133.43bn to close at N26.82tn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 27.07%.
A total of 222.78m shares valued at N2.13bn were exchanged in 2,756 deals. STERLNBANK (-0.73%) led the volume chart with 153.28m units traded while AIRTELAFRI (+0.00%) led the value chart in deals worth N744.34m.
Market breadth closed positive at a 2.43-to-1 ratio with advancing issues outnumbering declining ones. CAP (+9.88%) topped sixteen (16) others on the gainer’s table, while GEREGU (-8.11%) led six (6) others on the laggard’s log.
The naira depreciated by 0.2% to close at N451.33/USD at the I&E window.
The overnight lending rate contracted by 508bps to 11.8%, in the absence of any significant pressure on the system.
Quiet trading persisted in the Nigerian Treasury Bills secondary market, as the average yield remained at 8.2%. However, the average yield pared by 1bp to 10.1% in the OMO segment.
Activities in the FGN bond secondary market were bullish, as the average yield contracted by 15bps to 13.5%.
Across the benchmark curve, the average yield contracted at the short (-23bps) and long (-14bps) ends following buying interests on the FEB-2028 (-118bps) and APR-2037 (-72bps) bonds, respectively, but closed flat at the mid segment.
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