TUE, 08 NOV, 2022-theGBJournal| In today’s trading session, the Nigerian equities market settled lower following profit-taking activities in DANGCEM (-8.3%).
Thus, the All-Share Index declined by 1.8% to close at 43,461.60 points. Accordingly, the Month-to-Date loss increased to -0.9%, while the Year-to-Date gain moderated to +1.7%.
The total volume traded increased by 142.0% to 249.91 million units, valued at N2.50 billion, and exchanged in 3,283 deals. ACCESSCORP was the most traded stock by volume and value at 128.73 million units and N1.03 billion, respectively.
Analysing by sectors, the Industrial Goods (-3.9%), Insurance (-1.3%), Consumer Goods (-0.6%), and Banking (-0.2%) indices recorded losses, while the Oil & Gas (+0.6%) index was the sole gainer for the day.
As measured by market breadth, market sentiment was negative (0.6x) as 18 tickers lost relative to 11 gainers. GUINNESS (-10.0%) and CUSTODIAN (-9.3%) recorded the most significant losses of the day, while UNITYBNK (+10.0%) and THOMASWY (+8.6%) topped the gainers’ list.
Activities in the Treasury bills secondary market were bullish, as the average yield contracted by 19bps to 10.9%. Across the curve, the average yield was flat at the short and mid segments but contracted at the long (-47bps) end following demand for the 310DTM (-279bps) bill. Elsewhere, the average yield was flat at 10.2% in the OMO segment.
Trading in the FGN bond secondary market was bullish, as the average yield contracted by 2bps to 14.5%. Across the benchmark curve, the average yield declined at the short (-5bps) and mid (-13bps) segments as investors demanded the FEB-2028 (-31bps) and APR-2029 (-18bps) bonds, respectively. Conversely, the average yield expanded at the long (+7bps) end due to profit-taking activities on the MAR-2036 (+37bps) bond.
At the money market, the overnight lending rate contracted by 8bps to 8.8%, in the absence of any significant inflow into the system.
The naira depreciated by 0.1% to NGN446.10/USD at the I&E window.
Twitter-@theGBJournal| Facebook-The Government and Business Journal|email: gbj@govbusinessjournal.ng|govandbusinessj@gmail.com
