MON 24 JAN, 2022-theGBJournal- The Nigerian equities market started the week’s trading on a negative note, as profit-taking witnessed in FBNH (-1.7%) and ZENITHBANK (-0.8%) stocks caused a 0.1% decrease in the benchmark index. Thus, the NGX ASI settled at 45,928.27 points. Accordingly, the Year-to-Date gain moderated to +7.5%.
The total volume traded decreased by 1.1% to 278.61 million units, valued at NGN2.89billion, and exchanged in 4,447 deals. CHAMS was the most traded stock by volume at 40.55 million units, while SEPLAT was the most traded stock by value at NGN797.37 million.
Analysing by sectors, the Insurance (-1.4%), Banking (-0.5%), and Consumer Goods (-0.2%) indices recorded losses while the Oil & Gas (+1.7%) index was the sole gainer. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.6x) as 23 tickers lost relative to 14 gainers. REGALINS (-9.5%) and FTNCOCOA (-7.7%) recorded the most significant losses of the day, while NNFM (+9.5%) and ACADEMY (+9.1%) topped the gainers’ list.
Currency
The naira depreciated by 0.1% to NGN416.38/USD at the I&E window.
Money & Fixed Income Market
The overnight lending rate contracted by 675bps to 8.5% in the absence of any significant funding pressure on the system.
Trading in the NTB secondary market was quiet, as the average yield was flat at 4.4%. Elsewhere, the average yield declined by 25bps to 5.6% in the OMO segment.
The Treasury bond secondary market closed with bullish sentiments, as the average yield declined by 4bps to 11.1%. Across the benchmark curve, the average yield contracted at the short (-6bps) and mid (-6bps) segments as investors demanded the JAN-2026 (-24bps) and FEB-2028 (-16bps) bonds, respectively; the average yield was unchanged at the long end.
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