…the naira depreciated by 0.1% to N1,654.09/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM)
…Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 4bps to 24.1%
WED OCT 23 2024-theGBJournal| The NGX benchmark Index, the NGX All-Share Index (NGXASI), continued its climb on Wednesday as treasury bond stayed flat, reflecting traders steady nerves as corporate earnings results pour in.
The ASI and market capitalisation added 5bps to settle at 98,944.42 points and N59.95 trillion respectively at the close of trading today.
The broader index was bolstered by gains ZENITHBANK (+4.66%), OANDO (+10.00%) and FBNH (+6.49%), offsetting losses in ARADEL (-9.99%) and STERLINGNG (-2.24%). Consequently, the year-to-date (YTD) return rose to 32.33%
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 66.63%.
A total of 283.73 million shares valued at N8.29 billion were exchanged in 7,961 deals.
UBA (+5.19%) led the volume and value charts with 66.03 million units traded in deals worth N1.79 billion.
Market breadth closed positive at a 2-to-1 ratio with advancing issues outnumbering declining ones. OANDO (+10.00%) topped twenty-nine others on the leader’s log, while ARADEL (-9.99%) led fourteen others on the laggard’s table.
Meanwhile, the naira depreciated by 0.1% to N1,654.09/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
At the money market, the overnight lending rate contracted by 183bps to 30.8% following inflows from CRR credits (c. NGN154.00 billion).
The fixed income market saw the Treasury bills secondary market trading with bullish sentiments, as the average yield contracted by 4bps to 24.1%.
Across the curve, the average yield declined at the short (-4bps), mid (-5bps), and long (-3bps) segments, driven by demand for the 65DTM (-15bps), 170DTM (-54bps), and 212DTM (-17bps) bills, respectively. Conversely, the average yield expanded by 59bps to 26.4% in the OMO segment.
Elsewhere, the Treasury bond secondary market traded in a lull as the average yield closed flat at 19.1%.
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