MON 11 APRIL, 2022-theGBJournal |Trading activities in the domestic bourse started this week on a positive note, supported by investors’ demand for MTNN (+1.2%) and ZENITHBANK (+4.4%) stocks.
Thus, the NGX All-Share Index advanced by 0.5% to 46,867.95 points. Accordingly, the Month-to-Date loss moderated to -0.2%, while the Year-to-Date gain increased to +9.7%.
The total volume of trades increased by 45.8% to 224.64 million units, valued at NGN3.82 billion, and exchanged in 5,946 deals. GTCO was the most traded stock by volume at 43.25 million units, while MTNN was the most traded stock by value at NGN1.03 billion.
Sector performance was broadly positive, as the Banking (+2.8%), Insurance (+1.4%), and Industrial Goods (+0.2%) indices closed higher, while the Oil & Gas (-0.1%) index declined. The Consumer Goods index closed flat.
As measured by market breadth, market sentiment was positive (2.6x), as 31 tickers gained relative to 12 losers. NAHCO (+10.0%) and UACN (+9.9%) recorded the highest gains of the day, while ACADEMY (-9.6%) and MBENEFIT (-7.7%) topped the losers’ list.
Currency
The naira depreciated by 0.1% to NGN417.00/USD at the I&E window.
Money & Fixed Income
The overnight lending rate expanded by 200bps to 8.3% in the absence of any significant funding pressure on the system.
Trading in the NTB secondary market was quiet, as the average yield was unchanged at 3.3%. Similarly, the average yield was flat at 3.6% in the OMO segment.
The Treasury bond secondary market traded with bearish sentiments, as the average yield expanded by 5bps to 10.9%. Across the benchmark curve, the average yield expanded at the short (+7bps), mid (+1bp) and long (+4bps) ends as investors sold off the JAN-2026 (+46bps), JUL-2030 (+3bps), and MAR-2035 (+16bps) bonds, respectively.
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