TUE. 17 JANUARY, 2023-theGBJournal| The local bourse reversed yesterday’s loss, as buying interest in AIRTELAFRI (+3.2%) triggered a 0.7% gain in the benchmark index. Thus, the All-Share Index closed at 52,701.31 points, with the Year-to-Date return increasing to +2.8%.
The total volume traded increased by 3.0% to 228.49 million units, valued at NGN4.44 billion, and exchanged in 3,681 deals. STERLNBANK was the most traded stock by volume at 76.74 million units, while GEREGU was the most traded stock by value at NGN1.43 billion.
Analysing by sectors, the Consumer Goods (+0.5%), Banking (+0.2%), Oil & Gas (+0.2%), and Industrial Goods (+0.1%) indices advanced, while the Insurance (-0.1) index was the sole loser of the day.
As measured by market breadth, market sentiment was positive (1.4x), as 21 tickers gained relative to 15 losers. UPDCREIT (+10.0%) and MRS (+9.9%) topped the gainers’ list, while UPDC (-6.9%) and GEREGU (-6.7%) recorded the highest losses of the day.
The naira was flat at NGN461.50/USD at the I&E window.
The overnight lending rate contracted by 17bps to 9.8%, in the absence of any significant funding pressure on the system.
The Nigerian Treasury bills secondary market was quiet, as the average yield closed flat at 3.3%. Elsewhere, the average yield contracted by 48bps to 2.9% in the OMO segment.
The Treasury bond secondary market closed on a bearish note, as the average yield expanded by 14bps to 12.8%.
Across the benchmark curve, the average yield expanded at the short (+27bps) and long (+9bps) ends as investors sold off the MAR-2027 (+167bps) and MAR-2050 (+35bps) bonds, respectively. Conversely, the average yield closed flat at the mid segment.
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