TUE 25 JAN, 2022-theGBJournal- Trading in the local bourse edged a positive performance in today’s session, as the All-Share Index notched a 2bps gain to close at 45,939.51 points. Precisely, investors’ interest in ETI (+9.9%) supported market performance amid sell-offs on ZENITHBANK (-0.8%). Consequently, the Year-to-Date return increased to +7.6%.
The total volume traded decreased by 11.1% to 247.68 million units, valued at NGN3.58 billion, and exchanged in 4,242 deals. GTCO was the most traded stock by volume at 24.52 million units, while SEPLAT was the most traded stock by value at NGN963.42 million.
On sectors, the Oil & Gas (+0.7%), Banking (+0.5%) and Consumer Goods (+0.1%) indices recorded gains, while the Insurance (-0.9%) index declined. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.4x) as 19 tickers gained relative to 14 losers. COURTVILLE (+10.0%) and ETI (+9.9%) topped the gainers’ list, while CILEASING (-10.0%) and PRESTIGE (-9.8%) recorded the highest losses of the day.
Currency
The naira was flat at NGN416.33/USD at the I&E window.
Money & Fixed Income Market
The overnight lending rate contracted by 665bps to 1.9%, following inflows from OMO maturities (NGN110.00 billion).
The NTB secondary market traded with mixed sentiments, although with a bearish tilt, as the average yield expanded by 3bps to 4.4%. Across the curve, the average yield expanded at the mid (+15bps) segment as investors sold off the 121DTM (+92bps) bill but contracted at the long (-4bps) end following increased demand for the 212DTM (-34bps) bill; the average yield was unchanged at the short end. Elsewhere, the average yield pared by 2bps to 5.5% at the OMO segment.
Trading in the Treasury bond secondary market continued on a bullish note, as the average yield declined by 12bps to 11.0%. Across the benchmark curve, the average yield contracted at the short (-13bps), mid (-31bps) and long (-2bps) segments following buying activities on APR-2023 (-44bps), APR-2029 (-47bps) and MAR-2035 (-23bps) bonds, respectively.
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