TUE, 06 SEPT, 2022-theGBJournal| The bears continued to dominate the Nigerian equities market as profit-taking activities in AIRTELAFRI (-2.0%) drove the All-Share Index 0.7% lower to close at 49,644.92 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -0.4% and +16.2%, respectively.
The total volume traded declined by 30.8% to 138.99 million units, valued at NGN2.73 billion, and exchanged in 4,247 deals. STERLNBANK was the most traded stock by volume at 18.30 million units, while MTNN was the most traded stock by value at NGN656.89 million.
On sectoral performance, the Banking (-1.3%) and Insurance (-0.1%) indices printed losses, while the Consumer Goods (+0.2%) index closed higher. The Oil & Gas and Industrial Goods indices closed flat.
As measured by market breadth, market sentiment was negative (0.6x) as 17 tickers lost relative to 11 gainers. NPFMCRFBK (-7.8%) and REGALINS (-7.7%) recorded the highest losses of the day, while UNILEVER (+9.4%) and CAP (+7.6%) topped the gainers’ list.
Currency
The naira depreciated by 0.3% to NGN436.00/USD at the I&E window.
Money Market &Fixed Income
The overnight lending rate contracted by 33bps to 12.8%, in the absence of any significant inflow into the system.
The Treasury bills secondary market traded quietly in today’s session, as the average yield was unchanged at 7.7%. Elsewhere, the average yield contracted by 29bps to 10.8% in the OMO segment.
Activities in the Treasury bond secondary market were mixed, albeit with a bearish bias, as the average yield inched higher by 1bp to 12.9%. Across the benchmark curve, the average yield closed flat at the short and long ends, but expanded at the mid (+5bps) segment as investors sold off the FEB-2028 (+19bps) bond.
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