WED, 08 JUNE, 2022-theGBJournal| In today’s trading session, bearish sentiments returned to the domestic equities market as investors took profits off FBNH (-5.5%). Precisely, the All-Share Index fell by 0.14% to 53,193.98 points. Consequently, the Month-to-Date and Year-to-Date gains moderated to +0.4% and +24.5%, respectively.
The total volume traded increased by 6.1% to 248.96 million units, valued at NGN1.86 billion, and exchanged in 4,265 deals. TRANSCORP was the most traded stock by volume at 103.56 million units, while PRESCO was the most traded stock by value at NGN212.07 million.
Sectoral performance was mixed as the Insurance (-1.8%) and Banking (-0.9%) indices recorded losses, while the Industrial Goods and Oil & Gas indices closed flat. The Consumer Goods (+0.1%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was negative (0.9x) as 17 tickers lost relative to 15 gainers. CHAMPION (-9.8%) and CORNERST (-9.7%) topped the losers’ list, while CAVERTON (+7.3%) and FTNCOCOA (+5.9%) recorded the most significant gains of the day.
The overnight lending rate expanded by 83bps to 8.3% in the absence of any significant funding pressure on the system.
Trading in the Treasury bills secondary market was bearish, as the average yield expanded by 3bps to 4.0%. Across the curve, the average yield expanded at the short (+7bps) and mid (+1bp) segments as market participants sold off the 78DTM (+30bps) and 141DTM (+7bps) bills, respectively; the average yield closed flat at the long end. Elsewhere, the average yield remained flat at 4.4% in the OMO segment.
Activities in the Treasury bond secondary market were mixed, although with a bearish tilt, as the average yield expanded by 1bp to 11.1%. Across the benchmark curve, the average yield expanded at the short (+3bps) end as investors sold off the JAN-2026 (+9bps) bond; but closed flat at the mid and long segments.
The naira appreciated by 0.1% to NGN420.25/USD at the I&E window.
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