…Bonds yield contracts by 2bps to 12.7%
TUE, 30 AUG, 2022-theGBJournal| Profit-taking activities continued today in the domestic equities market, with MTNN (-0.5%) weighing down the bourse. Thus, the All-Share Index declined by 0.1% to 49,642.69 points. Consequently, the Month-to-Date and Year-to-Date returns printed -1.4% and +16.2%, respectively.
The total volume traded declined by 45.9% to 125.95 million units, valued at NGN3.07 billion, and exchanged in 4,145 deals. MBENEFIT was the most traded stock by volume at 25.34 million units, while MTNN was the most traded stock by value at NGN1.45 billion.
Sectoral performance was mixed, as the Oil & Gas (+0.1%) and Insurance (+0.1%) indices recorded gains, while the Banking (-0.1%) index declined. The Industrial Goods and Consumer Goods indices closed flat.
As measured by market breadth, market sentiment was mixed (1.0x) as an equal number of tickers gained and lost. COURTVILLE (-7.7%) and FCMB (-4.1%) topped the losers’ list, while ETRANZACT (+9.5%) and SOVRENINS (+7.7%) recorded the most significant gains of the day.
Highlights of market activities
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 49,642.69 | -0.07 | +16.21 |
| Market Cap. (N ‘trillion) | 26.78 | -0.07 | +20.09 |
| Volume (millions) | 125.95 | -43.43 | |
| Value (N ‘billion) | 3.07 | +44.32 |
Dividend Information for 2022
| Company | Dividend (Bonus) | Closure Date | Payment Date |
| STANBIC | N1.50 (interim) | 7-Sep-22 | 21-Sep-22 |
| ZENITHBANK | ₦0.30 (interim) | 7-Sep-22 | 13-Sep-22 |
| SEPLAT | $0.025 (interim) | 15-Aug-22 | 9-Sep-22 |
| CUSTODIAN | N0.10 (interim) | 26-Aug-22 | 1-Sep-22 |
| OKOMU OIL | N7.00 (interim) | 26-Aug-22 | 29-Aug-22 |
| MTNN | N5.60 (interim) | 19-Aug-22 | 26-Aug-22 |
| BUAFOODS | N3.50 | 14-Jul-22 | 4-Aug-22 |
Meanwhile, activities in the Treasury bills secondary market were quiet, as the average yield was unchanged at 7.8%. Elsewhere, the average yield contracted by 1bp to 11.1% in the OMO segment.
Proceedings in the Treasury bond secondary market were bullish, as the average yield contracted by 2bps to 12.7%. Across the benchmark curve, the average yield contracted at the short (-5bps) and long (-1bp) ends as investors demanded the JAN-2026 (-25bps) and JUL-2045 (-7bps) bonds, respectively. Conversely, the average yield was flat at the mid segment.
The overnight lending rate contracted by 33bps to 9.7%, in the absence of any significant funding pressure on the system.
The naira depreciated by 0.2% to NGN431.00/USD at the I&E window.
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