MON, APRIL 27 2020-theG&BJournal- Activities in the domestic bourse resumed the week on a positive note, as mild increases in MTNN (+0.9%) and some Tier 1 banks’ stocks midwife the first gain of the week. Specifically, the All-Share Index increased by 0.1% to 22,616.28 points. Accordingly, Month-to-date gain increased to 6.2% as Year-to-Date losses moderated to -15.7%.
The total volume of trades decreased by 48.9% to 108.12 million units, valued at NGN1.33 billion and exchanged in 3,354 deals. LASACO was the most traded stock by volume at 13.54 million units while DANGCEM was the most traded stock by value at NGN328.84 million.
Analysing by sectors, the Consumer Goods (-1.9%), Insurance (-0.3%), and Industrial Goods (-0.04%) indices declined, while the Banking (+1.1%) and Oil and Gas (+0.4%) indices gained.
Market sentiment, as measured by market breadth, was positive (0.6x), as 13 tickers declined, relative to 8 gainers. NB (-10.0%) and TRANSCORP (-5.4%) were the top losers of the day, while LASACO (+8.3%) and CHAMS (+4.8%) were the top gainers of the day.
Currency
The naira was flat at the parallel market at NGN450.00/USD, while it weakened by 0.8% to NGN386.25/USD at the I&E FX window.
Money market and fixed income
The overnight lending rate contracted by 558bps to 15.5%, even as the system liquidity – estimated at NGN28.65 billion – remains tight.
Trading in the NTB secondary market was mixed, as average yield across instruments was flat at 2.71% as retail volume continues to dominate trading activity in the space. Similarly, average yield was flat at 9.9% in the OMO secondary market.
Trading in the Treasury bond secondary market was bullish, as average yield pared by 5bps to 10.5%. Across the curve, yields contracted at the short (-30bps) and mid (-49bps) segments following demand for the JUL-2021 (-41bps) and MAR-2027 (-41bps) bonds, respectively; the long end was flat.-With Cordros Research
|twitter:@theGBJournal|email: info@govandbusinessjournal.com.ng|
