…Treasury Bonds secondary market traded with bullish sentiments
….Treasury Bills yield expanded by 11bps to 10.7%
WED, 16 NOV, 2022-theGBJournal| Nigerian equities recovered as the benchmark Index, the NGX All-Share Index rose by 0.55% to settle at 44,050.44 points. Bullish sentiment in telco heavyweights, MTNN (+0.32%), BUAFOODS (+0.80%) and ZENITHBANK (+8.46%) drove the market’s rebound.
In response, the year-to-date (YTD) return rose to 3.12%, with market capitalisation gaining N131.92bn to close at N23.99trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 141.12%.
A total of 159.44m shares valued at N2.86bn were exchanged in 3,039 deals. FIDELITYBK (-1.95%) led the volume chart with 27.95m units traded while AIRTELAFRI (+0.00%) led the value chart in deals worth N626.62m.
Market breadth closed flat. CORNERST (+10.00%) topped eighteen (18) others on the gainer’s table, while ETERNA (-10.00%) led eighteen (18) others on the laggard’s log.
Market Activities
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 44,050.44 | +0.55 | +3.12 |
| Market Cap. (N ‘trillion) | 23.99 | +0.55 | +7.61 |
| Volume (millions) | 159.44 | +54.10 | |
| Value (N ‘billion) | 2.86 | +141.12 |
Dividend Information for 2022
| Company | Dividend (Bonus) | Closure Date | Payment Date |
| SEPLAT | $0.025 (interim) | 11-Nov-22 | 6-Dec-22 |
| ACCESSCORP | N0.20 (interim) | 28-Sep-22 | 12-Oct-22 |
| GTCO | N0.30 (interim) | 21-Sep-22 | 30-Sep-22 |
| UBA | N0.20 (interim) | 22-Sep-22 | 29-Sep-22 |
| STANBIC | N1.50 (interim) | 7-Sep-22 | 21-Sep-22 |
| ZENITHBANK | N0.30 (interim) | 7-Sep-22 | 13-Sep-22 |
At the fixed income market, Treasury bills secondary market traded bearish, as the average yield expanded by 11bps to 10.7%. Across the curve, the average yield was flat at the short and long ends but expanded at the mid (+21bps) segment following the sell-off of the 99DTM (+168bps) bill. Elsewhere, the average yield remained at 10.2% in the OMO segment.
On the contrary, the Treasury bonds secondary market traded with bullish sentiments, as the average yield dipped by 6bps to 14.4%. Across the benchmark curve, the average yield closed flat at the short end but contracted at the mid (-9bps) and long (-11bps) segments following demand for the APR-2029 (-10bps) and MAR-2050 (-22bps) bonds, respectively.
The overnight lending rate was unchanged at 16.5%, as the system liquidity closed in a net long position (N131.44 billion) while the naira was flat at NGN446.67/USD at the I&E window.
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