THUR, AUGUST 17 2023-theGBJournal |The Nigerian equities market recorded its first positive performance this week, as buying interest in FBNH (+4.4%) and DANGSUGAR (+4.4%) drove the benchmark index 0.1% higher to 64,663.78 points.
Accordingly, the Month-to-Date and Year-to-Date returns printed +0.5% and +26.2%, respectively.
The total volume traded advanced by 9.8% to 320.35 million units, valued at NGN3.73 billion, and exchanged in 5,176 deals. FIDELITYBK was the most traded stock by volume and value at 80.05 million units and NGN595.54 million, respectively.
Analysing by sectors, the Insurance (+0.5%), Consumer Goods (+0.4%), and Oil & Gas (+0.1%) indices posted gains while the Banking (-0.5%) index declined. Elsewhere, the Industrial Goods index closed flat
As measured by market breadth, market sentiment was positive (1.2x), as 20 tickers gained relative to 17 gainers. JOHNHOLT (+10.0%) and CWG (+9.8%) topped the gainers’ list, while GUINEAINS (-8.6%) and RTBRISCOE (-8.2%) recorded the most significant losses of the day.
The naira appreciated by 2.6% to N740.67/USD at the I&E window
The overnight lending rate expanded by 176bps to 21.4%, in the absence of any significant funding pressure on the system.
The Treasury bills secondary market traded quietly, as the average yield was unchanged at 7.3%. Elsewhere, the average yield was flat at 3.0% in the OMO segment.
Proceedings in the FGN bond secondary market was bearish as the average yield advanced by 5bp to 13.8%.
Across the benchmark curve, the average yield expanded at the short (+2bp), mid (+11bps) and long (+5bps) segments, following profit-taking activities on the MAR-2026 (+9bps), APR-2029 (+28bps) and APR-2037 (+29bps) bonds, respectively.
Twitter-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com| govandbusinessj@gmail.com
