…The Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 19bps to 20.9%
TUE SEPT 03 2024-theGBJournal| The domestic equities market edged slightly higher Tuesday from the prior session, as the benchmark index gained 8bps to close at 96,873.74 points.
Sustained interest in GTCO (+0.88%), ACCESSCORP (+1.56%), and STANBIC (+3.60%) outweighed losses in ZENITHBANK (-1.79%), FBNH (-1.79%) and UBA (-0.61%).
The ASI year-to-date return increased to 29.56%, while the market capitalization gained N45.84 billion to close at N55.65 trillion.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 5.67%. A total of 473.00m shares valued at N10.41 billion were exchanged in 12,532 deals.
ACCESSCORP led the volume chart with 106.28 million units traded, while OANDO (+7.63%) led the value chart in deals worth N4.32 billion
Market breadth closed positive, with advancing issues outnumbering declining ones. CILEASING (+10.00%) topped twenty-eight others on the leader’s log, while RTBRISCOE (-10.00%) led twenty-six others on the laggard’s table.
Meanwhile, the naira depreciated by 1.6% to NGN1,611.34/USD from N1,585.77 in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
At the money market, the overnight lending rate expanded by 123bps to 23.5% following debits for the OMO auction (N459.60 billion) conducted yesterday.
The Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 19bps to 20.9%.
Across the curve, the average yield declined at the short (-1bp), mid (-1bps), and long (-39bps) segments, driven by participants’ demand for the 65DTM (-1bp), 156DTM (-2bps), and 233DTM (-270bps) bills, respectively.
Meanwhile, the average yield pared by 1bp to 22.8% in the OMO segment.
The Treasury bond secondary market traded in a lull as the average yield was flat at 18.5%.
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