…All-Share Index notched a 1.7% increase to 37,443.40 points to open the week
MON, 21 DEC, 2020-theGBJournal- Activities at the Treasury bonds secondary market were bearish, as average yield expanded by 15bps to 5.4%. Across the curve, average yield expanded at the short (+6bps), mid (+42bps) and long (+7bps) segments, due to profit-taking on the MAR-2024 (+77bps), FEB-2028 (+106bps) and MAR-2050 (+49bps) bonds, respectively.
The overnight lending rate contracted by 250bps to 2.0%, in the absence of any significant outflows from the system.
The NTB secondary market was mixed with a bearish bias, as the average yield expanded slightly by 1bp to 0.4%. Across the curve, average yield was flat at the short and mid segments, but expanded at the long (+3bps) end, following sell-offs of the 297DTM (+15bps) instrument. Elsewhere, average yield at the OMO secondary market was flat at 0.5%.
At the FX market, the naira was flat at NGN394.00/USD and NGN477.00/USD at the I&E window and parallel market, respectively.
Meanwhile, the domestic equities market opened the week with positive trading, as the All-Share Index notched a 1.7% increase to 37,443.40 points. The performance was supported by investors’ interests in DANGCEM (+10.0%), WAPCO (+2.3%) and OANDO (+9.9%) stocks. Accordingly, Month-to-Date and Year-to-Date gain increased to 6.9% and +9.5%, respectively.
The total volume of trades increased by 0.2% to 427.06 million units, valued at NGN3.31 billion, and exchanged in 5,258 deals. MANSARD was the most traded stock by volume at 90.18 million units, while DANGCEM was the most traded stock by value at NGN1.27 billion.
Analysing by sectors, the Industrial Goods (+5.5%), Insurance (+5.2%) and Oil & Gas (+0.8%) indices recorded gains, while the Banking (-1.1%) and Consumer Goods (-0.1%) indices declined.
Market sentiment, as measured by market breadth, was negative (1.0x), as 23 tickers lost, relative to 22 gainers. ETERNA (-9.9%) and TRANSEXPR (-9.2%) recorded the largest losses of the day, while BOCGAS (+10.0%) and DANGCEM (+10.0%) topped the gainers’ list.-With Cordros Research
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