MON, 12 SEPT, 2022-theGBJournal| The domestic equities market started the week’s trading with bearish sentiments, as investors took profits off FBNH (-3.3%) and WAPCO (-2.8%) stocks. Thus, the All-Share Index settled lower by 0.1% at 49,626.05 points.
Accordingly, the Month-to-Date and Year-to-Date returns settled at -0.4% and +16.2%, respectively.
The total volume traded declined by 72.9% to 86.59 million units, valued at NGN1.17 billion, and exchanged in 3,377 deals. GTCO was the most traded stock by volume and value at 19.47 million units and N385. 59 million, respectively.
Analysing by sectors, the Insurance (-1.4%), Banking (-0.5%) and Industrial Goods (-0.3%) indices declined, while the Oil & Gas and Consumer Goods indices closed flat.
As measured by market breadth, market sentiment was positive (1.1x) as 13 tickers gained relative to 12 losers. MULTIVERSE (+9.3%) and FTNCOCOA (+6.7%) topped the gainers’ list, while BETAGLA (-10.0%) and NEM (-8.0%) recorded the most significant losses of the day.
Market Activities highlight.
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 49,626.05 | -0.14 | +16.18 |
| Market Cap. (₦ ‘trillion) | 26.77 | -0.14 | +20.05 |
| Volume (millions) | 86.59 | -72.86 | |
| Value (₦ ‘billion) | 1.17 | -37.22 |
Dividend Information for 2022
| Company | Dividend (Bonus) | Closure Date | Payment Date |
| GTCO | N0.30 (interim) | 21-Sep-22 | 30-Sep-22 |
| UBA | N0.20 (interim) | 22-Sep-22 | 29-Sep-22 |
| STANBIC | N1.50 (interim) | 7-Sep-22 | 21-Sep-22 |
| ZENITHBANK | N0.30 (interim) | 7-Sep-22 | 13-Sep-22 |
| SEPLAT | $0.025 (interim) | 15-Aug-22 | 9-Sep-22 |
| CUSTODIAN | N0.10 (interim) | 26-Aug-22 | 1-Sep-22 |
Meanwhile, the Treasury bills secondary market closed on a bearish note, as the average yield expanded by 12bps to 7.8%. Across the curve, the average yield pared at the short (-1bp) end due to demand for the 73DTM (-1bp) bill, but expanded at the mid (+62bps) segment as participants sold off the 164DTM (+187bps) bill. Conversely, the average yield was flat at the long end. Elsewhere, the average yield contracted by 1bp to 10.8% in the OMO segment.
Activities in the FGN bond secondary market were mixed, albeit with a bullish bias, as the average contracted by 1bp to 13.0%. Across the benchmark curve, the average yield dipped at the short (-1bp) end following mild interest in the APR-2023 (-5bps) bond, but was flat at the mid and long segments.
The overnight lending rate expanded by 300bps to 12.0%, in the absence of any significant funding pressure on the system.
The naira was flat at NGN436.50/USD at the I&E window.
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