WED, AUGUST 16 2023-theGBJournal |The local bourse recorded its third consecutive loss this week, following profit-taking activities on AIRTELAFRI (-5.3%).
Consequently, the All-Share index declined by 0.5% to 64,625.28 points. Accordingly, the MTD and YTD gains fell to +0.5% and +26.1%, respectively.
The total volume traded increased by 4.0% to 291.71 million units, valued at N7.43 billion, and exchanged in 6,213 deals.
GTCO was the most traded stock by volume at 41.75 million units, while AIRTELAFRI was the most traded stock by value at N1.82 billion.
Performance across the sectors was mixed, as the Insurance (-2.8%) and Banking (-0.4%) indices declined, while the Consumer Goods (+2.4%) and Oil & Gas (+0.4%) indices advanced. Meanwhile, the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.7x), as 16 tickers lost relative to 22 gainers.
NEM (-10.0%) and SUNUASSUR (-8.5%) topped the losers’ list, while ETERNA (+10.0%) and CWG (+8.6%) recorded the highest gains of the day.
Meanwhile, the naira appreciated by 2.0% to N759.86/USD at the I&E window even as the overnight lending rate expanded significantly by 11.2% to 19.6%, following the debits for the FGN bond auction (N230.26 billion).
Activities in the Treasury bills secondary market remained bearish, as the average yield expanded by 6bps to 7.3%.
Across the curve, the average yield was unchanged at the short and mid segments but expanded at the long (+10bps) end due to sell pressures on the 344DTM (+126bps) bill. Elsewhere, the average yield was flat at 11.8% in the OMO segment.
The Treasury bond secondary market closed on a bearish note, as the average yield advanced by 7bps to 13.8%.
Across the benchmark curve, the average yield increased at the short (+15bps) and long (+6bps) ends as market participants sold off the MAR-2027 (+55bps) and APR-2049 (+41bps) bonds, respectively. Conversely, the average yield was flat at the mid segment.
Twitter-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com| govandbusinessj@gmail.com
