MON, AUG 24 2020-theG&BJournal– The Nigerian Stock Exchange (NSE) closed with additional gains Monday’s after the All-Share Index gained 0.03% to close at 25,229.12 points. 15 stocks posted gains while 15 equally declined. Market capitalisation now totals N13.161 trillion.
Month-to-Date gain increased to 2.2% while the Year-to-Date loss moderated to -6.0%. Buying interests in UNILEVER (+7.5%), GUARANTY (+0.4%) and ZENITHBANK (+0.3%) spurred the marginal gain in the market.
The total volume of trades increased by 58.4% to 251.19 million units, valued at NGN2.36 billion and exchanged in 3,737 deals. TRANSCORP was the most traded stock by volume at 75.06 million units while ZENITHBANK was the most traded stock by value at NGN767.61 million.
On sectors, performance was mixed following gains in the Insurance (+0.8%) and Consumer Goods (+0.7%) indices, and losses in the Industrial Goods (-0.1%) and Banking (-0.01%) indices. The Oil & Gas index was flat.
Market sentiment, as measured by the market breadth, was flat (1.0x), as 15 tickers gained relative to 15 losers. UPL (+9.7%) and UNITYBNK (+9.6%) topped the gainers’ list while TRANSCORP (-8.2%) and ROYALEX (-7.7%) recorded the largest losses of the day.
Currency
The naira was flat at the I&E window and parallel market at NGN386.00/USD and NGN477.00/USD, respectively.
Money Market & Fixed Income
The overnight lending rate expanded by 37bps to 3.0%, following outflows for CBN’s FX Invisibles & SMEs auction.
Trading in the NTB secondary market was mixed, as average yield was flat at 1.7%. On the other hand, average yield contracted by 14bps to 3.5% at the OMO secondary market.
Elsewhere, trading in the Treasury bond secondary market was bullish, as average yield contracted by 10bps to 7.8%. Across the benchmark curve, yield contracted at the short (-1bp), mid (-3bps) and long (-22bps) segments, due to sell-offs of the JAN-2022 (-2bps), JUL-2030 (-11bps) and MAR-2036 (-58bps) bonds, respectively.
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