…FBNH led the volume and value chart with 64.09 million units traded in deals worth N1.41 billion
…The local currency climbed 0.8% to NGN1,593.93/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
THUR AUG 29 2024-theGBJournal| The Nigerian equities rebounded Thursday, as the benchmark index gained 0.21% to close at 96,407.88 points.
Gains in GTCO (+0.22%), NB (+1.07%) and JBERGER (+9.97%) outweighed losses in ZENITHBANK (-0.13%), FBNH (-2.22%) and UBA (-3.52%).
As a result, the year-to-date (YTD) return rose to 28.93%, as market capitalization gained N117.51 billion to close at N55.38 trillion.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 63.75%.
A total of 966.97 million shares valued at N7.42 billion were exchanged in 9,851 deals.
FBNH led the volume and value chart with 64.09m units traded in deals worth N1.41 billion
Market breadth closed positive at a 1.04-to-1 ratio with advancing issues outnumbering declining ones. OANDO (+9.98%) topped twenty-three others on the leader’s log, while SCOA (-9.79%) led twenty-two others on the laggard’s table.
The local currency climbed 0.8% to N1,593.93/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
At the money market, the overnight lending rate contracted by 271bps to 20.7% in the absence of any significant inflows into the system.
Bullish sentiments persisted in the T-bills secondary market, as the average yield declined by 13bps to 21.1%. Across the curve, the average yield decreased at the short (-1bp), mid (-1bp), and long (-28bps) segments following demand for the 84DTM (-1bp), 161DTM (-2bps), and 266DTM (-159bps) bills, respectively.
Similarly, the average yield dipped by 2bps to 24.0% in the OMO segment.
The Treasury bond secondary market was bullish as the average yield contracted by 12bps to 18.9%.
Across the benchmark curve, the average yield expanded slightly at the short (+1bp) end following profit-taking activities in the APR-2029 (+3bps) bond but declined at the mid (-34bps) and long (-7bps) segments due to investors interests in the JUN-2033 (-119bps) and APR-2049 (-45bps) bonds, respectively.
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