THUR, 05 NOV, 2020-theGBJournal- The Nigerian equities market was marginally lower but closed flat after today’s proceedings, following declines in UBN (-3.6%), INTBREW (-5.8%) and FLOURMILL (-2.8%) stocks. Against the foregoing, the All Share Index was flat at 30,738.92 points. Consequently, Month-to-Date and Year-to-Date gain were unchanged at 0.7% and 14.5%, respectively.
The total volume of trades increased by 50.2% to 430.12 million units, valued at NGN6.62 billion and exchanged in 4,319 deals. FBNH was the most traded stock by volume at 61.49 million units, while BUACEMENT was the most traded stock by value at NGN2.28 billion, respectively.
Across sectoral indices, the Insurance (-0.7%) and Consumer Goods (-0.5%) indices recorded declines, while the Banking (+0.1%) index gained. The Oil & Gas and Industrial Goods indices ended flat.
Market sentiment, as measured by market breadth, was positive (1.1x), as 18 tickers gained, relative to 17 losers. TRANSCORP (+9.9%) and LEARNAFRCA (+9.5%) topped the gainers list, while LINKASSURE (-8.9%) and ABCTRANS (-8.8%) recorded the largest losses of the day.
Currency
The naira was flat at NGN386.00/USD at the I&E window but depreciated by 0.2% to NGN465.00/USD in the parallel market.
Money Market & Fixed Income
The overnight lending rate expanded by 34bps to 1.4%, following outflows for CBN’s weekly OMO auction.
Activities at the NTB secondary market were bearish, as average yield expanded by 2bps 0.5%. Across the curve, average yield expanded at the mid (+4bps) and long (+3bps) segments, due to the sell-offs of the 147DTM (+14bps) and 308DTM (+33bps) instruments, respectively; average yield was flat at the short end. Elsewhere, average yield contracted by 13bps to 0.2% at the OMO secondary market.
Trading in the Treasury bond secondary market was bullish, as average yield pared by 4bps to 3.9%. Across the curve, average yield contracted at the short (-12bps) end, due to the demand for the MAR-2024 (-39bps) bond, but was flat at the mid and long segments.-With Cordros Research.
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