MON, 08 AUG, 2022-theGBJournal| The Lagos bourse ended lower to open the week, reversing prior session gains as the All-Share Index lost 0.46% to close at 50,489.73 points. The drag on the market’s performance was borne from selloffs in telco heavyweight, MTNN (-2.28%) and Tier-1 banks, ZENITHBANK (-2.97%) & GTCO (-0.49%). Consequently, the year-to-date (YTD) return fell to 18.20%, while market capitalization lost N125.46bn to close at N27.23trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 10.07%. A total of 207.20m units of shares valued at N2.12bn were exchanged in 4,234 deals. FBNH (-1.37%) led the volume and value charts with 74.63m units traded in deals worth N820.15m.
Market breadth closed positive at a 1.3-to-1 ratio with declining issues outnumbering advancing ones. RTBRISCOE (-10.00%) led twelve (12) others on the laggard’s log while JAPAULGOLD (+8.82%) topped nine (9) others on the leader’s table.
Key highlights of market activities.
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 50,489.73 | -0.46 | +18.20 |
| Market Cap. (N ‘trillion) | 27.23 | -0.46 | +22.14 |
| Volume (millions) | 207.20 | +39.24 | |
| Value (N ‘billion) | 2.12 | +10.07 | |
At the money market, the overnight lending rate remained unchanged at 15.0%, as system liquidity closed in a net short position at NGN78.94 billion.
Trading in the Nigerian Treasury Bills secondary market was mixed, albeit with a bullish tilt as the average yield pared by 1bp to 7.6%. Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments due to buying interests on the 52DTM (-1bp) and 108DTM (-1bp) bills, respectively; but was flat at the long end. Similarly, the average yield contracted by 3bps to 11.1% in the OMO segment.
The Treasury bond secondary market traded with bearish sentiments, as the average yield expanded by 15bps to 12.4%. Across the benchmark curve, the average yield expanded at the short (+31bps) and mid (+22bps) segments as investors sold off the MAR-2027 (+60bps) and APR-2029 (+41bps) bonds, respectively. Conversely, the average yield closed flat at the long end.
The naira depreciated by 0.7% to NGN431.00/USD at the I&E window.
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