TUE, MAY 23 2023-theGBJournal |For the third consecutive session, the NGX Exchange maintained the bull run bringing the benchmark index up by 0.48% to close at 52,621.19 points today.
Sustained buying interest in ZENITHBANK (+2.08%), GTCO (+2.03%), and STANBIC (+5.33%) offset losses in NB (-0.26%), ETI (-0.40%) and UCAP (-1.88%).
As a result, the year-to-date (YTD) return rose to 2.67%, with the market capitalization increasing by N137.25bn to close at N28.65trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 28.17%. A total of 350.97m shares valued at N5.17bn were exchanged in 5,946 deals.
UBA (+0.00%) led the volume charts with 62.45m units traded and ZENITHBANK (+2.08%) led the value charts in deals worth N1.58bn.
Market breadth closed positive at a 2.70-to-1 ratio with advancing issues outnumbering declining ones.
TRANSCORP (+9.85%) led twenty-six (26) others on the leader’s log while JAPAULGOLD (-5.71%) topped nine (9) others on the leader’s table.
The overnight lending rate contracted by 213bps to 11.5%, in the absence of any significant inflow into the system.
The NTB secondary market traded with mixed sentiments, albeit with a bullish tilt, as the average yield pared by 1bp to 6.8%. Across the curve, the average yield closed flat at the short and mid segments but contracted at the long (-2bps) end as market participants demanded the 296DTM (-44bps) bill.
Proceedings in the Treasury bond secondary market were quiet as the average yield closed flat at 14.0%.
Across the benchmark curve, the average yield expanded slightly at the short (+1bp) end following the sell-off of the MAR-2027 (+10bps) bond.
Conversely, the average yield was flat at the mid and long segments.
The naira depreciated by 0.2% to NGN464.42/USD at the I&E window.
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