MON, APRIL. 17 2023-theGBJournal |The Nigerian stock market carried on last week’s bearish sentiments, as losses in MTNN (-6.7%) and ZENITHBANK (-0.5%) triggered a 1.5% decline in the benchmark index. Thus, the All-Share Index settled at 51,120.94 points. Accordingly, the Month-to-Date and Year-to-Date returns printed -5.7% and -0.3%, respectively.
The total volume traded declined by 58.2% to 226.59 million units, valued at NGN1.57 billion, and exchanged in 4,373 deals. TRANSCORP was the most traded stock by volume at 63.44 million units, while ZENITHBANK was the most traded stock by value at NGN292.63 million.
On sectoral performance, the Banking (-5.5%) and Insurance (-0.1%) indices declined, while the Oil & Gas and Industrial Goods indices closed flat. The Consumer Goods (+0.1%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was negative (0.9x), as 18 tickers lost relative to 16 gainers. INTENEGINS (-7.0%) and MTNN (-6.7%) topped the loser’s list, while IKEJAHOTEL (+9.5%) and TRANSCORP (+9.5%) recorded the highest gains of the day.
Meanwhile, the overnight lending rate closed flat at 19.0%, as system liquidity remained in a net short position (N262.28 billion).
Activities in the NTB secondary market were mixed, but with a bullish bias, as the average yield pared by 2bps to 8.8%. Across the curve, the average yield closed flat at the short and mid segments but contracted at the long (-3bps) end following interest in the 332DTM (-26bps) bill. Elsewhere, the average yield stayed flat at 4.0% in the OMO segment.
Trading in the treasury bond secondary market was quiet, as investors shifted focus toward today’s FGN bond PMA. Thus, the average yield was unchanged at 13.5%.
The naira appreciated by 0.4% to N462.25/US$ at the I&E window.
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