TUE, JULY 21 2020-theG&BJournal-Sentiments remained weak in the domestic bourse, as the All-Share Index declined by 0.4% to 24,174.45 points. This is as investors sold off on DANGCEM (-3.2%) and ZENITHBANK (-0.6%) stocks. Thus, Month-to-Date and Year-to-Date losses increased to -1.3% and -9.9%, respectively.
The total volume of trade decreased by 0.3% to 304.19 million units, valued at NGN3.27 billion and exchanged in 3,500 deals. FBNH was the most traded stock by volume at 82.20 million units while DANGCEM was the most traded stock by value at NGN696.36 million.
Across sectors, the Oil & Gas index traded flat while the Industrial Goods (-1.6%), Insurance (-0.9%), Banking (-0.1%) and Consumer Goods (-0.1%). The Oil & Gas index was flat.
Market sentiment, as measured by market breadth, was positive (1.4x), as 14 tickers gained, relative to 10 losers. LINKASSURE (+8.6%) and VITAFOAM (+7.9%) were the top gainers of the day, while ETERNA (-10.0%) and PRESTIGE (-9.3%) recorded the largest losses.
Currency
The naira appreciated by 0.1% to NGN388.17/USD at the Investor & Exporters’ (I&E) window while it was flat at NGN472.00/USD at the parallel market.
Money Market & Fixed Income
The overnight lending rate crashed by 787bps to 2.8%, following inflows from OMO maturities (NGN23.36 billion).
The NTB secondary market was bullish, as average yield contracted by 18bps to 1.8%. Across the curve, yield contracted at the short (-26bps) and mid (-29bps) segments, as market participants were interested in the 9DTM (-57bps) and 86DTM (-56bps) instruments, respectively; the long end was flat. Similarly, average yield contracted by 46bps to 5.1% at the OMO secondary market.
Also, trading in the Treasury bond secondary market was bullish, as average yield contracted by 7bps to 7.6%. Across the curve, yield contracted at the short (-7bps) and mid (-17bps) segments, due to demand for the MAR-2025 (-39bps) and FEB-2028 (-40bps) bonds, respectively; the long end was flat.
|twitter:@theGBJournal|email: info@govandbusinessjournal.com.ng|
