…The Naira fell by 6.5% to N850.22/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM)
TUE, NOV 14 2023-theGBJournal| Nigerian equities market closed higher on Tuesday after investors turned interest back on heavyweight index-BUACEMENT (+3.34%) alongside ZENITHBANK (+2.69%), and GTCO (+0.83%).
Gains on the three stocks helped outweigh losses in ACCESSCORP (-0.58%), TRANSCORP (-1.44%), and FIDELITYBK (-1.64%), keeping the market in the green.
The benchmark index, the All-Share Index rose by 0.33% to close at 70,840.72 points consequently. The year-to-date (YTD) return also rose to 38.22%, while market capitalization gained N145.51bn to close at N38.94trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 56.54%.
A total of 327.43m shares valued at N3.37bn were exchanged in 6,533 deals. JAPAULGOLD (+2.78%) led the volume chart with 44.70 million units traded, while UBA (+0.48%) led the value chart in deals worth N555.02 million.
Market breadth closed positive at a 1.91-to-1 ratio with advancing issues outnumbering declining ones. MULTIVERSE (+9.31%), topped twenty others on the leader’s table, while FTNCOCOA (-9.29%) led ten others on the laggard’s table.
Meanwhile, the NTB secondary market traded with mixed sentiments but with a bullish bias, as the average yield pared by 1bp to 13.3%. Across the curve, the average yield closed flat at the short and mid segments but dipped at the long (-1bp) end, following mild interest in the 345DTM (-1bp) bill. Similarly, the average yield declined by 1bp to 15.8% in the OMO segment.
Meanwhile, proceedings in the FGN bond secondary market were bearish, as the average yield expanded by 8bps to 15.8%. Across the benchmark curve, the average yield contracted at the short (-4bps) end, as investors demanded the MAR-2025 (-18bps) bond but expanded at the mid (+5bps) and long (+15bps) segments due to the sell-off of the JUN-2033 (+21bps) and JUL-2053 (+87bps) bonds, respectively.
The Naira fell by 6.5% to N850.22/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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