TUE 19 APRIL, 2022-theGBJournal | Activities in the Nigerian equities market picked from where they left off last week, closing higher on gains in STANBIC (+3.4%), FBNH (+3.0%), and GUINNESS (+6.9%).
Thus, the All-Share Index advanced by 0.1% to 47,545.86 points. Consequently, the Month-to-Date and Year-to-Date returns increased to +1.2% and +11.3%, respectively.
The total volume traded declined by 5.1% to 365.45 million units, valued at NGN7.11 billion, and exchanged in 5,790 deals. FIDELITYBK was the most traded stock by volume at 33.76 million units, while MTNN was the most traded stock by value at NGN4.72 billion.
Performance across sectors was mixed as the Oil & Gas and Industrial Goods indices closed flat, while the Banking (-0.3%) and Insurance (-0.1%) indices declined. The Consumer Goods (+0.3%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was negative (0.7x) as 29 tickers lost relative to 21 gainers. ACADEMY (-9.7%) and JOHNHOLT (-9.3%) recorded the most significant losses of the day, while MEYER (+10.0%) and GUINNESS (+6.9%) topped the gainers’ list.
Currency
The naira appreciated by 0.1% to NGN417.00/USD at the I&E window.
Money & Fixed Income
The overnight lending rate contracted by 233bps to 8.8% in the absence of any significant funding pressure on the system.
Activities in the Treasury bills secondary market were quiet, as the average yield closed flat at 3.3%. Similarly, the average yield closed flat at 3.7% in the OMO segment.
The Treasury bond secondary market traded with mixed sentiments although with a bullish tilt, as the average yield pared by 1bp to 10.9%. Across the benchmark curve, the average yield contracted at the short (-4bps) and long (-3bps) ends following buying interest in the APR-2023 (-9bps) and MAR-2035 (-14 bps) bonds, respectively; but expanded at the mid (+11bps) segment as investors sold off the FEB-2028 (+33bps) bond.
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