WED, APRIL. 19 2023-theGBJournal |The NGX Exchange benchmark index, the All-Share Index, Wednesday, extended its gains for the second consecutive session as the Index closed 0.08% stronger to 51,178.41 points.
The performance was primarily driven by gains in Tier-1 banking names ZENITHBANK (+0.23%), STANBIC (+3.19%) and ACCESSCORP (+1.69%) offsetting losses in WAPCO(-1.47%), NB (-1.50%) and FCMB (-0.86%). As a result, the ASI year-to-date (YTD) increased to -0.14%, while market capitalization gained N17.75bn to close at N27.87trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 20.77%. A total of 1.27bn shares valued at N3.98bn were exchanged in 3,505 deals. TRANSCORP (+9.85%) led the volume and value charts with 1.14bn units traded in deals worth N2.14bn.
Market breadth closed positive at a 3.14-to-1 ratio with advancing issues outnumbering declining ones. TRANSCORP (+9.85%) topped twenty-one (21) others on the leader’s log while FTNCOCOA (-3.85%) topped six (6) others on the laggard’s table.
The overnight lending rate was unchanged at 19.0%, as system liquidity remained in a net short position (NGN782.03 billion).
Cautious trading persisted in the NTB secondary market, as the average yield was flat at 8.8%. Elsewhere, the average yield stayed flat at 4.0% in the OMO segment.
The FGN bond secondary market traded with mixed sentiments, as the average yield was unchanged at 13.9%. Across the benchmark curve, the average yield contracted at the short (-1bp) end, following buying interest in the JAN-2026 (-23bps) bond. Conversely, the average yield closed flat at the mid and long segments.
The naira appreciated by 0.2% to close at NGN462.50/USD at the I&E window.
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