THUR, 23 JUNE, 2022-theGBJournal| Extending its winning streak for the third consecutive session, the NGX Exchange (NGX) maintained the positive momentum as the benchmark index closed 0.47% stronger to close at 51,618.73 points.
Sustained appetite for MTNN (+3.85%), FBNH (+9.78) and UBN (+6.19%) outweighed losses in ZENITHBANK (-1.59%), GTCO (-0.24%) and NB (-1.57%) keeping the market in the green. As a result, the ASI’s year-to-date (YTD) return increased to 20.84%, while the market capitalization gained N130.21bn to close at N27.83trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 10.57%. A total of 223.25m shares valued at N2.86bn were exchanged in 4,028 deals. MBENEFIT (+0.00%) led the volume chart with 40.13m units while PRESCO (-0.10%) led the value chart in deals worth N383.18m.
Market breadth closed negative at a 1.17-to-1 ratio with declining issues outnumbering advancing ones. ACADEMY (-10.00%) topped twenty (20) others on the laggard’s table, while FBNH (+9.78%) led seventeen (17) others on the leader’s log.
Meanwhile, at the FX market, the naira appreciated by 0.1% to NGN420.17/USD at the I&E window.
The overnight lending rate contracted by 13bps to 14.0%, in the absence of any significant inflow into the system.
And, trading in the Treasury bills secondary market was bearish, as the average yield expanded by 3bps to 4.7%. Across the curve, the average yield expanded at the short (+6bps) and mid (+3bps) segments due to profit-taking on the 49DTM (+45bps) and 154DTM (+14bps) bills, respectively; but closed flat at the long end. Elsewhere, the average yield was unchanged at 5.2% in the OMO segment.
Proceedings in the Treasury bond secondary market were mixed, although with a bearish tilt, as the average yield expanded slightly by 1bp to 11.1%. Across the benchmark curve, the average yield closed flat at the short and long ends, but expanded at the mid (+2bps) segment as investors sold off the FEB-2028 (+6bps) bond.
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