THUR. 26 JANUARY, 2023-theGBJournal| Sentiments in the domestic equities market turned positive as the All-Share Index inched higher by 0.3% to close at 52,752.96 points. The bullish performance was supported by bargain-hunting in GEREGU (+10.0%). Accordingly, the Year-to-Date return increased to +2.9%.
The total volume traded increased by 16.6% to 139.68 million units, valued at N2.02 billion, and exchanged in 3,549 deals. GTCO was the most traded stock by volume and value at 17.79 million units and NGN433.18 million, respectively.
Sectoral performance was broadly positive, as the Banking (+1.6%), Oil & Gas (+1.6%), Insurance (+1.0%), and Consumer Goods (+0.1%) indices advanced, while the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (3.6x), as 25 tickers gained relative to 7 losers. GEREGU (+10.0%) and WAPIC (+9.8%) recorded the highest gains of the day, while RTBRISCOE (-9.1%) and ROYALEX (-8.2%) topped the losers’ list.
At the fixed income market, trading activities in the Treasury bills secondary market were largely bullish, as the average yield contracted by 191bps to 1.5%.
Across the curve, the average yield declined at the short (-70bps), mid (-184bps), and long (-337bps) segments following demand for the 91DTM (-134bps), 133DTM (-209bps) and 273DTM (-431bps) bills, respectively.
Elsewhere, the average yield was flat at 2.9% in the OMO segment.
In the same vein, the Treasury bond secondary market closed on a bullish note, as the average yield contracted by 16bps to 13.0%.
Across the benchmark curve, the average yield dipped at the short (-34bps) and long (-7bps) ends due to investors’ interest in the APR-2023 (-133bps) and APR-2037 (-47bps) bonds, respectively. Conversely, the average yield closed was unchanged at the mid segment.
Meanwhile, the naira appreciated by 0.1% to N461.25/USD at the I&E window.
The overnight lending rate expanded by 17bps to 11.0%, in the absence of any significant funding pressure on the system.
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