MON, APRIL 20 2020-theG&BJournal- The five-day run of gains for the domestic bourse came to a halt today but little changed at the end of the day’s trading.
The All-Share Index declined marginally by 0.01% to 22,920.41 points. Thus, Month-to-date gain and Year-to-Date loss were flat at 7.61% and -14.61%, respectively.
The total volume of trades increased by 49.15% to 345.44 million units, valued at NGN4.21 billion and exchanged in 4,930 deals. FBN was the most traded stock by volume at 115.32 million units while NESTLE was the most traded stock by value at NGN1.37 billion.
On sectoral performance, the Industrial Goods (+4.80%), Consumer Goods (+1.19%) and Insurance (+1.11%) indices recorded gains, while the Banking (-4.01%) and Oil and Gas (-0.45%) indices recorded declines.
Market sentiment, as measured by market breadth, was negative (0.9x), as 15 tickers declined, relative to 14 gainers. GUINNESS (-9.4%) and PZ (-9.1%) recorded the largest losses, while LINKASSURE (+10.0%) and JBERGER (+10.0%) were the top gainers of the day.
Currency
The naira weakened at the parallel market by 0.95% to NGN420/USD and was flat at the I&E FX window at NGN386.13/USD.
Money Market & Fixed Income
The overnight lending rate expanded by 45bps to 2.7%, as banks funded for CBN’s weekly Wholesale, Invisibles and SMEs FX auctions. Nonetheless, system liquidity remains healthy.
Trading in the NTB secondary market was bullish, as average yield across instruments contracted by 10bps to 2.97%. Across the curve, yields contracted at the short (-5bps) and long (-23bps) ends following demand for the 10DTM (-20bps) and 269DTM (-52bps) instruments; the mid segment was flat. Conversely, average yield expanded by 111bps to 11.87% at the OMO secondary market.
Trading in the Treasury bond secondary market was mixed as average yield was flat at 10.96%. Across the curve, yields pared at the short (-1bp) end following demand for the APR-2023 (-26bps) bond, and expanded at the mid (-10bps) segment as investors sold off the MAR-2027 (+6bps) bond; the long end was flat. -With Cordros Research
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