…STERLINGNG (+0.00%) led the volume chart with 42.79 million units traded, while ARADEL (-10.00%) led the value chart in deals worth N1.04 billion.
…The naira fell 0.1% to N1,660.49/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM), also extended its fall, constrained FX demand.
…Trading activities in the T-bills secondary market were bullish, as the average yield declined by 3bps to 23.5%
THUR OCT 17 2024-theGBJournal| The Nigerian equities market extended it losses on Thursday as the benchmark index gave up 21bps to close at 98,081.38 points.
Profit taking in ARADEL (-10.00%), GTCO (-3.85%) and OANDO (-5.82%) offset gains in TRANSPOWER (+9.68%), ZENITHBANK (+0.13%), and TRANSCOHOT (+7.78%) putting the index on track for another weekly gain. Accordingly, the ASI year-to-date return slipped to 31.17%, while the market capitalization shed N127.34 billion to close at N59.43 trillion.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down 28.74%. A total of 239.31m shares valued at N6.41 billion were exchanged in 7,318 deals.
STERLINGNG (+0.00%) led the volume chart with 42.79 million units traded, while ARADEL (-10.00%) led the value chart in deals worth N1.04 billion.
Market breadth closed positive at a 1.87-to-1 ratio with advancing issues outnumbering the declining ones. GOLDBREW (+10.00%) topped twenty-seven (27) others on the leader’s table while ARADEL (-10.00%) led fourteen (14) others on the laggard’s log.
At the currency market, the naira fell 0.1% to N1,660.49/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM), also extended its fall, constrained FX demand.
The money mark saw the overnight lending rate shrinking by 32bps to 32.6% in the absence of any significant inflows into the system.
Meanwhile at the fixed income market, trading activities in the T-bills secondary market were bullish, as the average yield declined by 3bps to 23.5%.
Across the curve, the average yield contracted at the short (-1bp), mid (-2bps), and long (-6bps) segments following buying interests in the 84DTM (-1bp), 175DTM (-2bps), and 217DTM (-48bps) bills, respectively. Conversely, the average yield expanded by 12bps to 26.0% in the OMO segment.
Meanwhile, the FGN bond secondary market traded on a calm note, albeit with a bearish tilt, as the average yield expanded slightly by 1bp to 19.0%.
Across the benchmark curve, the average yield expanded at the short (+3bps) and mid (+1bp) segments due to selloffs of the APR-29 (+18bps) and JUL-30 (+6bps) bonds, respectively, but closed flat at the long end.
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