MON 31 JAN, 2022-theGBJournal- Trading in the domestic equities market kicked off the week positively, as investors’ demand for MTNN (+4.0%) drove the All-Share Index higher. Precisely, the ASI advanced by 0.9% to 46,624.67 points, with the Year-to-Date returns increasing to +9.2%.
The total volume traded increased by 39.0% to 435.80 million units, valued at NGN3.44 billion, and exchanged in 6,482 deals. FIDELITYBK was the most traded stock by volume at 38.04 million units, while NGXGROUP was the most traded stock by value at NGN472.09 million.
On sectors’ performance, the Industrial Goods (+0.5%), Banking (+0.4%), and Oil & Gas (+0.3%) indices gained, while the Insurance (-0.2%) and Consumer Goods (-0.2%) indices printed loss.
As measured by market breadth, market sentiment was positive (1.6x), as 33 tickers gained relative to 21 losers. CHIPLC (+10.0%) and RTBRISCOE (+10.0%) topped the gainers’ list, while UPL (-9.4%) and LASACO (-8.9%) recorded the most significant losses of the day.
Currency
The naira appreciated by 0.2% NGN415.33/USD at the I&E window.
Money & Fixed Income Market
The overnight lending rate expanded by 675bps to 8.0%, in the absence of any significant inflows into the system.
Trading in the NTB secondary market was bearish, as the average yield expanded by 4bps to 4.4%. Across the benchmark curve, the average yield was flat at the short and mid segments and expanded at the long (+9bps) end as investors sell-off the 206DTM (+74bps) bill. Elsewhere, the average yield expanded by 1bp to 5.2% in the OMO segment.
The Treasury bond secondary market was quiet, as the average yield was unchanged at 11.5%. Across the benchmark curve, the average yield pared at the short (-2bps) end as investors demanded the APR-2023 (-4bps) bond, expanded at the mid (+1bp) segment as investors’ sell-off the JUL-2030 (+2bps) bond and unchanged at the long end.
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