WED, 17 AUG, 2022-theGBJournal| The domestic bourse traded with mixed sentiments, albeit with a bearish tilt, as selloffs in Tier-1 banking names – ZENITHBANK (-0.5%) and FBNH (-0.5%) caused a 4bps decline in the benchmark index.
Thus, the NGX ASI settled at 49,691.17 points. Accordingly, the Month-to-Date and Year-to-Date returns printed -1.4% and +16.3%, respectively.
The total volume traded declined by 36.9% to 128.79 million units, valued at NGN4.12 billion, and exchanged in 3,492 deals. FBNH was the most traded stock by volume at 28.37 million units, while NESTLE was the most traded stock by value at NGN2.71 billion.
Performance across sectors was mixed, as the Banking (-0.2%), Oil & Gas (-0.2%) and Consumer Goods (-0.2%) indices closed in the red, while the Insurance (+0.3) index advanced. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.8x) as 13 tickers lost relative to 10 gainers. COURTVILLE (-9.8%) and SCOA (-9.8%) recorded the highest losses of the day, while PRESTIGE (+9.1%) and SOVRENINS (+8.0%) topped the gainers’ list.
Meanwhile, the Nigerian Treasury bills secondary market remained quiet, as the average yield was unchanged at 7.9%. Similarly, the average yield was unchanged at 11.1% in the OMO segment.
Trading in the Treasury bond secondary market was mixed, although with a bearish tilt, as the average yield inched higher by 1bp to 12.7%.
Across the benchmark curve, the average yield expanded at the short (+3bps) and mid (+2bps) segments, following profit-taking on the JAN-2026 (+14bps) and APR-2029 (3bps) bonds, respectively. Conversely, the average yield was flat at the long end.
The overnight lending rate was flat at 15.0%, as the system liquidity settled at a net short position of N150.49 billion.
At FX Market, the naira appreciated by 0.3% to NGN429.38/USD at the I&E window.
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