WED, JUN 10 2020-theG&BJournal-The domestic bourse closed lower in today’s session after two consecutive session of gains, as investors took profit in market heavyweight BUACEMENT (-3.9%). Thus, the All-Share Index declined by 0.5% to 25,215.04 points. Accordingly, the Month-to-Date return (-0.2%) turned negative, while the Year-to-Date loss increased to -6.1%.
The total volume of trades decreased by 0.8% to 266.65 million units, valued at NGN3.18 billion and exchanged in 3,978 deals. GUARANTY was the most traded stock by volume and value at 69.41 million units and NGN1.68 billion, respectively.
On sectors, the Industrial Goods (-2.5%), Consumer Goods (-0.3%) and Banking (-0.1%) indices recorded negative returns, while the Insurance (+1.4%) and Oil and Gas (+0.2%) indices rose.
Market sentiment, as measured by market breadth, was negative (0.9x), as 19 tickers declined, relative to 18 gainers. CILEASING (-9.4%) and UACN (-9.1%) were the top losers of the day, while PRESTIGE (+10.0%) and BERGER (+10.0%) recorded the largest gains.
Currency
The naira strengthened by 0.04% to NGN386.94/USD at the I&E window, while it was flat at NGN448.00/USD at the parallel market.
Money Market & Fixed Income
The overnight lending rate contracted by 132bps to 14.1%, in the absence of significant outflows from the system.
Trading in the NTB secondary market was mixed with average yield closing flat at 3.4%, as market participants shifted their focus to today’s NTB PMA. Elsewhere, average yield in the OMO secondary market expanded by 3bps to 4.9%.
Trading in the Treasury bond secondary market was bullish, as average yield pared by 5bps to 9.9%. Across the benchmark curve, average yield contracted at the short (-11bps) and long (-1bp) ends, due to demand for the MAR-2025 (-55bps) and APR-2037 (-2bps) bonds, respectively; the mid segment was flat.
|twitter:@theGBJournal|email: info@govandbusinessjournal.com.ng|
