MON, 01 AUG, 2022-theGBJournal| Nigerian equities opened the week on a weak note, reversing most of the prior session gains as the All-Share Index lost 0.83% to close at 49,950.32 points. The drag on the market’s performance was borne from selloffs in index heavyweight, BUACEMENT (-9.96%).
Consequently, the year-to-date (YTD) return fell to 16.93%, while market capitalization lost N226.45bn to close at N26.94trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions reducing by 19.21%. A total of 176.05m units of shares valued at N2.27bn were exchanged in 4,965 deals. GTCO (-0.76%) led the volume chart with 21.37m units while ZENITHBANK (+1.45%) led the value chart in deals worth N429.28bn.
Market breadth closed positive at a 1.62-to-1 ratio with advancing issues outnumbering declining ones. CAVERTON (+10.00%) led twenty others on the leader’s log while BUACEMENT (-9.96%) topped twelve others on the laggard’s table.
Key highlights of market activities:
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 49,950.32 | -0.83 | +16.93 |
| Market Cap. (N ‘trillion) | 26.94 | -0.83 | +20.81 |
| Volume (millions) | 176.05 | -30.90 | |
| Value (N ‘billion) | 2.27 | -19.21 | |
Dividend Information for 2022
| Company | Dividend (Bonus) | Closure Date | Payment Date |
| BUAFOODS | N3.50 | 14-Jul-22 | 4-Aug-22 |
| AIRTELAFRI | $0.03 (final) | 23-Jun-22 | 22-Jul-22 |
| BUACEMENT | N2.60 | 15-Jul-22 | 21-Jul-22 |
Meanwhile, the overnight lending rate contracted by 450bps to 10.5%, in the absence of any significant inflows into the system.
The NTB secondary market traded with mixed sentiments, albeit with a bullish tilt, as the average yield contracted by 1bp to 7.7%. Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments due to buying interests on the 10DTM (-2bps) and 115DTM (-1bp) bills, respectively. Conversely, the average yield closed flat at the long end. Elsewhere, the average yield pared by 1bp to 9.6% in the OMO segment.
Trading in the Treasury bond secondary market was bearish as the average yield expanded by 6bps to 12.0%. Across the benchmark curve, the average yield closed flat at the short end but expanded at the mid (+12bps) and long (+8bps) segments as investors took profits off the APR-2032 (+24bps) and JUL-2034 (+35bps) bonds, respectively.
The naira was flat at NGN428.88/USD at the I&E window.
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