THUR, JULY 06 2023-theGBJournal |The Nigerian equities market sustained the previous session’s gains, as bargain hunting in DANGCEM (+1.8%), spurred a 0.8% increase in the All-Share Index to 62,019.88 points.
Accordingly, the Month-to-Date and Year-to-Date returns printed +1.7% and +21.0%, respectively.
The total volume traded increased significantly by 543.2% to 5.44 billion units, valued at N95.01 billion, and exchanged in 9,948 deals.
FBNH was the most traded stock by volume and value at 4.69 billion units and N87.81 billion, respectively.
Analysing by sectors, the Oil & Gas (+2.4%), Industrial Goods (+0.9%), and Consumer Goods (+0.2%) indices recorded gains, while the Banking (-2.5%) and Insurance (-0.6%) indices printed losses.
As measured by market breadth, market sentiment was positive (3.0x), as 54 tickers gained relative to 18 losers.
ETERNA (+10.0%) and UBN (+10.0%) recorded the highest gains of the day, while WAPIC (-9.6%) and UPDC (-9.2%) topped the losers’ list.
The overnight lending rate expanded by 14bps to 1.3%, in the absence of any significant outflow from the system.
Trading in the Treasury bills secondary market was muted, as the average yield was unchanged at 6.3%.
Elsewhere, activities in the Treasury bonds secondary market were bullish, as the average yield contracted by 10bps to 13.0%.
Across the benchmark curve, the average yield dipped at the short (-15bps) and long (-11bps) ends as investors demanded the MAR-2024 (-50bps) and APR-2049 (-85bps) bonds, respectively.
Meanwhile, the average yield was unchanged at the mid segment.
The naira depreciated by 2.7% to N762.63/US$ at the I&E window.
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