…At the forex market, the naira appreciated by 0.7% to N1,678.93/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM)
…Trading in the Treasury bills secondary market was bullish, as the average yield contracted by 2bps to 24.1%
TUE NOV 19 2024-theGBJournal| The NGX All-Share Index (ASI) closed higher for a third straight session on Tuesday, rising 0.2% higher at 97,972.33 points.
WAPCO (+10.0%), MTNN (+1.2%) and GTCO (+1.2%) lifted the local bourse, consequently pushing the Month-to-Date and Year-to-Date returns to settle at +0.3% and +31.0%, respectively.
Market capitalization in turn added N136.38 billion to close at N59.37 trillion with more stocks hitting gains as 34 tickers climbed relative to 22 losers.
WAPCO (+10.0%) and UNILEVER (+10.0%) led the gainers, while PZ (-9.8%) and BERGER (-7.7%) posted the highest losses of the day. Equally, as measured by market breadth, market sentiment was positive (1.5x).
The total volume traded declined by 19.2% to 333.94 million units, valued at N6.42 billion, and exchanged in 9,021 deals.
ACCESSCORP was the most traded stock by volume and value at 37.84 million units and N910.19 million, respectively.
Sectoral performance was positive as the Insurance (+1.9%), Industrial Goods (+0.6%), Oil & Gas (+0.4%), Banking (+0.3%) and Consumer Goods (+0.3%) indices all inched higher.
Meanwhile, at the fixed income market, activities in the FGN bond secondary market were quiet as the average yield closed flat at 19.2%.
Across the benchmark curve, the average yield expanded at the short (+1bp) end due to profit-taking activities on the MAR-2025 (+3bps) bond but remained unchanged at the mid and long segments.
Trading in the Treasury bills secondary market was bullish, as the average yield contracted by 2bps to 24.1%.
Across the curve, the average yield declined at the short (-1bp), mid (-2bps) and long (-2bps) segments due to demand for the 79DTM (-2bp), 170DTM (-2bps) and 338DTM (-2bps) bills, respectively.
Conversely, the average yield expanded by 79bps to 27.1% in the OMO segment.
At the forex market, the naira appreciated by 0.7% to N1,678.93/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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