WED, JULY 26 2023-theGBJournal |The local bourse sustained its bullish momentum in Tuesday’s trading, as the All-Share Index advanced by 1.1% to 65,991.02 points following investors’ interests in MTNN (+5.5%).
Consequently, the Month-to-Date and Year-to-Date returns increased to +8.2% and +28.8%, respectively.
The total volume traded declined by 33.4% to 553.52 million units, valued at NGN7.42 billion, and exchanged in 8,313 deals. JAPAULGOLD was the most traded stock by volume at 72.49 million units, while GTCO was the most traded stock by value at NGN1.70 billion.
On sectors, the Oil & Gas (+3.3%) and Banking (+0.5%) indices recorded gains, while the Industrial Goods (-0.1%) and Insurance (-0.1%) index declined. The Consumer Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.1x), as 32 tickers gained relative to 30 losers. IKEJAHOTEL (+10.0%) and FTNCOCOA (+10.0%) recorded the highest gains of the day, while CONOIL (-10.0%) and LEARNAFRCA (-10.0%) topped the losers’ list.
The naira appreciated by 0.1% to N791.42/USD at the I&E window.
The overnight lending rate contracted by 498bps to 14.9%, in the absence of any significant inflow from the system.
The NTB secondary market traded on a calm note, as market participants anticipated Wednesday’s PMA. Thus, the average yield closed flat at 4.3%.
Bearish sentiments resurfaced in the Treasury bond secondary market, as the average yield expanded by 2bps to 12.7%.
Across the benchmark curve, the average yield expanded at the mid (+7bps) and long (+2bps) segments due to sell pressures on the APR-2029 (+13bps) and JUN-2053 (+26bps) bonds, respectively.
Meanwhile, the average yield closed flat at the short end.
Twitter-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com| govandbusinessj@gmail.com
