TUE, JAN 16 2024-theGBJournal|The local bourse extended its bullish streak in today’s trading session as buying interest in DANGCEM (+9.8%) and BUACEMENT (+10.0%) drove the All-Share Index 3.9% higher to close at 87,970.37 points. Subsequently, the Year-to-Date return increased to +17.7%.
The total volume traded advanced by 34.8% to 1.09 billion units, valued at NGN16.05 billion, and exchanged in 14,835 deals. JAIZBANK was the most traded stock by volume at 150.64 million units, while NASCON was the most traded stock by value at NGN2.57 billion.
From a sectoral perspective, the Industrial Goods (+9.7%), Insurance (+5.8%), Banking (+4.4%), Consumer Goods (+3.0%) and Oil & Gas (+0.1%) indices recorded significant gains.
As measured by market breadth, market sentiment was positive (7.5x), as 75 tickers gained relative to 10 losers. BERGER (+10.0%) and DANGSUGAR (+10.0%) topped the gainers’ list, while ROYALEX (-8.2%) and MULTIVERSE (-6.6%) recorded the most significant losses of the day.
The naira depreciated by 4.5% to NGN878.57/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate contracted by 450bps to 17.3%, despite the debits for the OMO auction (NGN300.00 billion) conducted yesterday.
Trading in the NTB secondary market was quiet, as the average yield closed flat at 3.0%. Similarly, the average yield was unchanged at 8.4% in the OMO segment.
In the same vein, the FGN bond secondary market traded on a calm note as the average yield closed flat at 13.3%.
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