WED, 03 AUG, 2022-theGBJournal| Today, the local bourse pulled back after yesterday’s rally, bringing the benchmark Index down 0.06% to settle at 50,594.97 points.
Selloffs in BUACEMENT (-2.24%), NB (-1.15%) and MTNN (-0.09%) weighed on the market’s performance, outweighing bargain hunting in GTCO (+0.25%), WAPCO (+6.18%), and DANGSUGAR (+6.25%).
As a result, the year-to-date (YTD) return fell to 18.44%, while market capitalization lost N16.76bn to close at N27.28trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 45.69%. A total of 121.16m units of shares valued at N4.17bn were exchanged in 4,369 deals. MTNN (-0.09%) led the volume and value charts with 10.41m units traded in deals worth N2.24bn.
Market breadth closed positive at a 1.47-to-1 ratio with advancing issues outnumbering declining ones. LASACO (+10.00%) led twenty-one (21) others on the leader’s log while LEARNAFRICA (-10.00%) topped fourteen (14) others on the laggard’s table.
The naira appreciated by 0.3% to NGN429.20/USD at the I&E window.
The overnight lending rate was unchanged at 15.0%, in the absence of any significant funding pressure on the system.
The Treasury bills secondary market traded quietly in today’s session, as the average yield was unchanged at 7.7%. Similarly, the average yield was flat at 9.6% in the OMO segment.
Proceedings at the Treasury bond secondary market continued on a bearish note, as the average yield expanded by 8bps to 12.2%. Across the benchmark curve, the average yield expanded at the short (+1bp), mid (+3bps), and long (+15bps) segments, as investors sold off the JAN-2026 (+5bps), APR-2032 (+8bps), and APR-2037 (+89bps) bonds, respectively.
Key highlights of market activities.
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 50,594.97 | -0.06 | +18.44 |
| Market Cap. (N ‘trillion) | 27.28 | -0.06 | +22.37 |
| Volume (millions) | 121.16 | -6.20 | |
| Value (N ‘billion) | 4.17 | +45.69 | |
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