TUE 07 DEC, 2021-theGBJournal- Trading in the local bourse edged a positive performance in today’s session, as the All-Share Index notched a 2bps gain to close at 42,018.92 points. Precisely, investors’ interest in WAPCO (+5.4%) and ZENITHBANK (+2.1%) supported market performance amid sell-offs of SEPLAT (-5.4%). Consequently, the Month-to-Date loss moderated to -2.8%, while the Year-to-Date return was unchanged at +4.3%.
The total volume traded increased by 51.5% to 639.44 million units, valued at NGN6.63 billion, and exchanged in 4,564 deals. FBNH was the most traded stock by volume and value at 364.03 million units and NGN4.11 billion, respectively.
Analysing by sectors, the Insurance (+1.1%), Banking (+1.1%) and Industrial Goods (+0.3%) indices recorded gains, while the Oil and Gas (-2.7%) and Consumer Goods (-0.5%) indices declined.
As measured by market breadth, market sentiment was positive (1.1x) as 19 tickers gained relative to 18 losers. ABBEYBDS (+9.5%) and MEYER (+8.3%) recorded the highest gains of the day, while GLAXOSMITH (-9.3%) and SEPLAT (-5.4%) topped the losers’ list.
Currency
The naira was flat at NGN415.07/USD at the I&E window.
Money Market & Fixed Income
The overnight lending rate contracted by 50bps to 16.3%, following inflows from OMO maturities (NGN50.00 billion).
The NTB secondary market was quiet, with the average yield expanding slightly by 1bp to 4.5%, as market participants position for tomorrow’s NTB PMA. Across the curve, the average yield expanded at the long (+3bps) end as investors sold off the 324DTM (+32bps) bill, but was unchanged at the short and mid segments. Elsewhere, the average yield contracted by 3bps to 5.5% at the OMO segment.
Trading in the Treasury bond secondary market remained mixed, albeit with a bullish tilt, as the average yield pared by 1bp to 11.4%. Across the benchmark curve, the average yield contracted at the short (-8bps) end due to demand for the JAN-2026 (-41bps) bond but expanded at the mid (+3bps) and long (+1bp) segments following sell-offs of the JUL-2030 (+8bps) and JUL-2034 (+22bps) bonds, respectively.
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