WED, JUNE 21 2023-theGBJournal |The Nigerian Equities market sustained its positive performance in today’s trading session as interest in BUACEMENT (+4.7%) underpinned market performance.
As a result, the All-Share Index advanced by 0.4% to 59,323.95 points. Accordingly, the Month-to-Date and Year-to-Date gains increased to +6.4% and +15.8%, respectively.
The total volume traded increased by 9.2% to 643.03 million units, valued at NGN6.11 billion, and exchanged in 7,806 deals.
UNIVINSURE was the most traded stock by volume at 141.34 million units, while GTCO was the most traded stock by value at NGN1.44 billion.
Analysing by sectors, the Insurance (+1.9%), Industrial Goods (+1.8%), and Oil & Gas (+1.8%) indices posted gains, while the Banking (-0.6%) and Consumer Goods (-0.1%) indices declined.
As measured by market breadth, market sentiment was positive (1.7x) as 43 tickers gained relative to 25 losers. AFROMEDIA (+10.0%) and ETRANZACT (+9.9%) recorded the most significant gains of the day, while JAIZBANK (-10.0%) and MEYER (-9.9%) topped the losers’ list.
The naira depreciated by 0.9% to 763.17/USD at the I&E window.
The overnight lending rate contracted by 20bps to 11.9%, despite the debits for the FGN bond auction (NGN221.57 billion).
The Treasury bills secondary market traded on a quiet note, as the average yield was unchanged at 6.6%.
Trading in the FGN bond secondary market was bearish, as the average yield contracted by 2bps to 13.7%.
Across the benchmark curve, the average yield expanded at the short (+7bps) and long (+7bps) ends due to profit-taking activities on the JAN-2026 (+35bps) and JUN-2053 (+1612bps) bonds, respectively.
Conversely, the average yield contracted at the mid (-185bps) segment following buying interest in the JUL-2030 (-523bps) bond.
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