MON 20 DEC, 2021-theGBJournal- Activities in the domestic equities market picked up from where they left off last week, closing higher on gains in FBNH (+1.2%) and DANGCEM (+0.6%) stocks. Thus, the All-Share Index advanced 0.1% to 42,394.71 points. Consequently, the Month-to-Date loss moderated to -2.0%, while the Year-to-Date return increased to +5.3%.
The total volume traded decreased by 58.4% to 142.17 million units, valued at NGN2.49 billion, and exchanged in 3,749 deals. FBNH was the most traded stock by volume at 20.19 million units while DANGCEM was the most traded stock by value at NGN726.27 million.
Performance across sectors was mixed, as the Industrial Goods (+0.3%) and Banking (+0.3%) indices posted gains while the Insurance (-0.5%) and Oil & Gas (-0.4%) indices declined. The Consumer Goods index was flat.
As measured by market breadth, market sentiment was positive (1.8x) as 20 tickers gained relative to 11 losers. NEIMETH (+9.8%) and ROYALEX (+8.7%) topped the gainers’ list while CILEASING (-8.7%) and CHIPLC (-6.9%) recorded the most significant losses of the day.
Meanwhile, the naira appreciated by 0.1% to NGN414.80/USD at the I&E window.
A the money market, the overnight lending rate expanded by 25bps to 12.5% in the absence of any significant funding pressures on the system.
The NTB secondary market was quiet as the average yield stayed flat at 4.5%. Similarly, the average yield was unchanged at 5.5% in the OMO segment.
The Treasury bond secondary market was mixed with bullish bias, as the average yield pared by 1bp to 11.4%. Across the benchmark curve, the average yield was flat at the mid segment but contracted slightly at the short (-1bp) and long (-1bp) ends due to demand for the APR-2023 (-3bps) and APR-2049 (-5bps) bonds, respectively.
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