TUE 26 APRIL, 2022-theGBJournal | Positive sentiment persisted in the Nigerian equities market as the All-Share Index nicked a 0.1% gain to close at 48,568.57 points. Precisely, investors’ interest in SEPLAT (+6.8%) and NB (+8.4%) supported market performance. Accordingly, the Month-to-Date and Year-to-Date returns were unchanged at +3.4% and +13.7%, respectively.
The total volume traded advanced by 41.5% to 464.73 million units, valued at NGN7.01 billion, and exchanged in 6,468 deals. TRANSCORP was the most traded stock by volume at 123.82 million units, while MTNN was the most traded stock by value at NGN2.72 billion.
Analysing by sectors, the Oil & Gas (+3.4%), Consumer Goods (+1.1%) and Insurance (+0.9%) indices advanced, the Industrial Goods index closed flat, while the Banking (-1.4%) index closed in the red.
As measured by market breadth, market sentiment was positive (1.2x) as 27 tickers gained relative to 22 losers. ACADEMY (+10.0%) and CHAMPION (+9.8%) topped the gainer’s list, while MULTIVERSE (-8.7%) and INTBREW (-8.0%) recorded the most significant losses of the day.
Currency
The naira depreciated by 0.3% to NGN418.50/USD at the I&E window.
Money Market & Fixed Income
The overnight lending rate contracted by 250bps to 8.8%, following inflows from FGN Bond Coupon payments (NGN113.41 billion).
Trading in the NTB secondary market turned bullish, as the average yield declined by 4bps to 3.7%. Across the curve, the average yield was unchanged at the mid segment but contracted at the short (-5bps) and long (-6bps) ends following buying interests in the 93DTM (-31bps) and 212DTM (-28bps) bills, respectively. Elsewhere, the average yield was flat at 4.1% in the OMO segment.
Conversely, the Treasury bond secondary market traded with mixed sentiments, as the average yield was flat at 11.0%. Across the benchmark curve, the average yield pared at the short (-1bp) end as investors demanded the APR-2023 (-2bps) bond but expanded at the long (1bp) end following profit-taking on the MAR-2035 (11bps) bond. Conversely, the average yield was flat at the mid segment.
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