MON, JULY 17 2023-theGBJournal |Trading activities in the local bourse started this week on a positive note, driven by investors’ interest in FBNH (+9.8%), ACCESSCORP (+9.7%) and GEREGU (+6.1%).
Accordingly, the NGX-ASI advanced by 0.6% to close at 62,943.35 points, with the Month-to-Date and Year-to-Date returns increasing to +3.2% and +22.8%, respectively.
The total volume traded advanced by 18.2% to 710.02 million units, valued at NGN13.83 billion, and exchanged in 8,979 deals.
STERLINGNG was the most traded stock by volume at 65.95 million units, while DANGCEM was the most traded stock by value at NGN7.49 billion.
Sectoral performance was mixed, as the Banking (+7.6%) and Insurance (+0.4%) indices recorded gains, while the Industrial Goods (-0.7%), Consumer Goods (-0.7%), and Oil & Gas (-0.6%) indices declined.
As measured by market breadth, market sentiment was positive (1.5x), as 41 tickers gained relative to 27 losers.
DAARCOMM (+10.0%) and FIDELITYBK (+10.0%) recorded the most significant gains of the day, while PZ (-10.0%) and UBN (-10.0%) topped the losers’ list.
At the foreign exchange market, the naira appreciated by 1.1% to N795.28/USD at the I&E window.
The overnight lending rate contracted by 17bps to 1.4%, in the absence of any significant inflows into the system.
The Nigerian Treasury bills secondary market resumed the week on a calm note, as the average yield was unchanged at 6.3%.
Similarly, the Treasury bond secondary market traded on a cautious note, as the average yield closed flat at 12.8%.
Across the benchmark curve, the average yield contracted at the short (-2bps) end as investors demanded the MAR-2024 (-5bps) bond. Conversely, the average yield was flat at the mid and long segments.
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