WED. 14 DEC, 2022-theGBJournal| Trading in the domestic equities market closed positively as interest in BUACEMENT (+2.9%) triggered a 0.3% increase in the benchmark index.
Consequently, the All-Share Index closed at 48,988.04 points, with the Month-to-Date and Year-to-Date returns increasing to +2.8% and +14.7%, respectively.
The total volume of trades declined by 46.0% to 88.04 million units, valued at NGN1.68 billion, and exchanged in 2,832 deals.
GTCO was the most traded stock by volume at 10.21 million units, while NESTLE was the most traded stock by value at N240.79 million.
Performance across sectors under our coverage was negative, as the Insurance (-0.9%), Consumer Goods (-0.4%), Oil & Gas (-0.2%) and Banking (-0.1%) indices closed lower, while the Industrial Goods (+1.5%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was positive (1.3x), as 16 tickers gained relative to 12 losers. REDSTAREX (+9.7%) and CHAMS (+9.5%) topped the gainers’ list, while PRESTIGE (-8.7%) and MULTIVERSE (-8.5%) recorded the most significant losses of the day.
Activities in the Nigerian Treasury bills secondary market were mixed, as the average yield remained at 8.2%. Similarly, the average yield was unchanged at 10.1% in the OMO segment.
Proceedings in the Treasury bonds secondary market were bullish, as the average yield contracted by 3bps to 13.6%.
Across the benchmark curve, the average yield was flat at the short and mid segments but contracted at the long (-7bps) end following investors’ demand for the MAR-2050 (-27bps) bond.
At the currency market, the naira depreciated by 0.9% to close at N450.58/US$ at the I&E window.
Meanwhile, the overnight lending rate expanded by 158bps to 16.8%, following the settlement for this month’s FGN Bond auction (N264.52 billion) that was held on Monday.
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