TUE. 14 FEB, 2023-theGBJournal| Bullish sentiments continued today in the local bourse as buying interest in GUINNESS (+6.4%) drove the All-Share Index 0.2% higher to 54,496.31 points.
Accordingly, the Month-to-Date and Year-to-Date gains printed +2.4% and +6.3%, respectively.
The total volume traded increased by 26.3% to 177.92 million units, valued at NGN5.69 billion, and exchanged in 3,617 deals. BUAFOODS was the most traded stock by volume and value at 50.01 million units and NGN3.72 billion, respectively.
Sectoral performance was mixed, as the Banking (-0.5%) and Insurance (-0.2%) indices declined while the Industrial Goods and Oil & Gas indices closed flat. The Consumer Goods (+0.4%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was negative (0.9x), as 19 tickers lost relative to 17 gainers. INTENEGINS (-6.2%) and LIVESTOCK (-5.5%) recorded the highest losses of the day, while TRIPPLEG (+9.5%) and COURTVILLE (+8.3%) topped the gainers’ list.
The naira depreciated by 0.2% to NGN461.67/USD at the I&E window.
The overnight lending rate expanded by 39bps to 11.2%, despite inflows from OMO maturities (NGN60.00 billion).
Activities in the Treasury bills secondary market were bearish, as the average yield expanded by 19bps to 1.6%. Across the curve, the average yield expanded at the short (+41bps) end due to profit-taking on the 23DTM (+187bps) bill but closed flat at the mid and long segments. Similarly, the average yield expanded by 81bps to 2.1% in the OMO segment.
The Treasury bond secondary market traded with bearish sentiments, as the average yield expanded by 6bps to 12.8%. Across the benchmark curve, the average yield expanded at the short (+17bps) end as investors sold off the MAR-2025 (+52bps) bond. The average yield closed flat at the mid and long segments.
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