THUR, OCT 05 2023-theGBJournal|The NGX benchmark index closed 0.1% higher Thursday on investors’ interest in DANGSUGAR (+1.8%), and as Nigerian Treasury bills secondary market traded with bullish sentiments.
The Month-to-Date and Year-to-Date gains advanced to +0.3% and +29.9%, respectively.
The total volume traded increased by 54.3% to 1.01 billion units, valued at NGN4.73 billion, and exchanged in 6,959 deals. NEIMETH was the most traded stock by volume and value at 657.09 million units and NGN985.65 million, respectively.
Sectoral performance was mixed, as the Banking (+0.4%) and Consumer Goods (+0.4%) indices recorded gains, while the Industrial Goods and Oil & Gas indices closed flat. The Insurance (-0.1%) index was the sole loser of the day.
As measured by market breadth, market sentiment was positive (1.3x), as 24 tickers gained relative to 19 losers. WEMABANK (+9.9%) and THOMASWY (+9.7%) topped the gainers’ list, while CHAMPION (-9.9%) and CHELLARAM (-9.8%) recorded the most significant losses of the day.
At the Nigerian Treasury bills secondary market, average yield contracted by 11bps to 7.7%.
Across the curve, the average yield dipped at the short (-52bps) end as market participants demanded the 21DTM (-208bps) bill. However, the average yield remained unchanged at the mid and long segments. Elsewhere, the average yield remained at 12.1% in the OMO segment.
Meanwhile, the Treasury bonds secondary market traded quietly as the average yield closed flat at 14.4%.
The overnight lending rate contracted by 100bps to 2.0%, in the absence of any significant inflows into the system.
The naira depreciated by 2.5% to NGN775.20/USD at the I&E window.
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