WED, MAY. 03 2023-theGBJournal| The Nigerian equities market sustained its negative sentiments as investors sold off NB (-6.1%) and MTNN (-0.7%). As a result, the All-Share Index closed at 52,207.77 points, declining by 0.2%. Accordingly, the Month-to-Date and Year-to-Date returns printed -0.4% and +1.9%, respectively.
The total volume of trades increased by 21.8% to 670.08 million units, valued at NGN5.03 billion, and exchanged in 6,254 deals.
TRANSCORP was the most traded stock by volume at 276.53 million units while ACCESSCORP was the most traded stock by value at NGN1.81 billion.
Sectoral performance was broadly positive, as the Oil & Gas (+0.8%), Insurance (+0.5%), Banking (+0.2%), and Industrial Goods (+0.1%) indices all advanced, while the Consumer Goods (-0.5%) index closed in the red.
As measured by market breadth, market sentiment was positive (1.2x), as 22 tickers gained relative to 18 losers. ARDOVA (+9.3%) and ACADEMY (+8.9%) topped the gainers’ list, while TRANSCORP (-9.5%) and INTENEGINS (-8.9%) recorded the highest losses of the day.
The naira depreciated by 0.1% to N463.00/USD at the I&E window.
The overnight lending rate expanded by 13bps to 11.5%, in the absence of any significant funding pressures on the system.
Activities in the Treasury bills secondary market were quiet, as the average yield closed flat at 7.3%.
Trading in the Treasury bonds secondary market was mixed, albeit with a bullish bias, as the average yield pared by 1bp to 14.0%. Across the benchmark curve, the average yield dipped at the short (-1bp) and mid (-2bps) segments following buying interest in the MAR-2024 (-3bps) and APR-2029 (-3bps) bonds, respectively. Conversely, the average yield was unchanged at the long end.
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