THUR 25 NOV, 2021-theGBJournal- The local bourse dipped further into the bear territory as investors sold off NB (-5.1%) and SEPLAT (-3.6%). Thus, the All-Share Index declined by 0.3% to 43,108.77 points.
The Month-to-Date and Year-to-Date return moderated to +2.6% and +7.1%, respectively.
The total volume traded increased by 9.4% to 266.12 million units, valued at NGN4.22 billion, and exchanged in 3,905 deals.
HONYFLOUR was the most traded stock by volume at 52.47 million units, while SEPLAT was the most traded stock by value at NGN1.18 billion.
On sectors, the Insurance (+0.6%) index recorded the sole gain, while the Oil and Gas (-1.6%), Banking (-1.2%), and Consumer Goods (-1.1%) indices declined. The Industrial Goods index was flat.
As measured by market breadth, market sentiment was negative (0.5x) as 24 tickers lost relative to 13 gainers. MRS (-9.9%) and CHAMS (-8.7%) recorded the most significant losses of the day, while HONYFLOUR (+9.8%) and AIICO (+8.5%) topped the gainers’ list.
The Treasury bond secondary market traded with mixed sentiments, albeit with a bearish bias, as the average yield expanded slightly by 1bp to 11.3%. Across the benchmark curve, the average yield contracted at the short (-6bps) end due to demand for the JAN-2022 (-57bps) bond but expanded at the mid (+13bps) segment as investors sold off the JAN-2026 (+36bps) bond; the long end was unchanged.
The naira was flat at NGN415.07/USD at the I&E window.
The overnight lending rate contracted by 650bps to 3.0%, despite debits for CBN’s weekly OMO auction and net NTB issuances.
The NTB secondary market was bullish as the average yield contracted by 19bps to 4.9%. Across the curve, the average yield stayed flat at the long end but contracted at the short (-43bps) and mid (-32bps) segments following demand for the 91DTM (-173bps) and 182DTM (-193bps) bills, respectively. In contrast, the average yield was flat at 5.5% in the OMO segment.
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