THUR. 02 MARCH 2023-theGBJournal | The Nigerian stock market ended the day higher following renewed interest in GEREGU (+9.0%) and AIRTELAFRI (+0.9%). Thus, the All-Share Index advanced by 0.3% to close at 55,670.24 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at -0.2% and +8.6%, respectively.
The total volume traded declined by 63.6% to 206.11 million units, valued at NGN3.26 billion, and exchanged in 4,385 deals. TRANSCORP was the most traded stock by volume at 29.75 million units, while AIRTELAFRI was the most traded stock by value at NGN959.11 million.
Analysing by sectors, the Banking (-1.1%), Oil & Gas (-0.3%), and Insurance (-0.1%) indices declined, while the Industrial Goods index closed flat. The Consumer Goods (+0.6%) index was the sole gainer for the day.
As measured by market breadth, market sentiment was negative (0.7x), as 25 tickers lost relative to 17 gainers. SOVRENINS (-10.0%) and ACADEMY (-9.4%) recorded the highest losses of the day, while SUNUASSUR (+10.0%) and DANGSUGAR (+9.9%) topped the gainers’ list.
The overnight lending rate expanded by 2bps to 10.8%, in the absence of any significant outflows from the system.
Trading in the NTB secondary market remained muted, as the average yield was unchanged at 4.0%. Similarly, the average yield was flat at 3.0% in the OMO segment.
Activities in the treasury bond secondary market were quiet as the average yield closed flat at 12.9%. Across the benchmark curve, the average yield expanded at the short (+2bps) end following sell pressures activities on the JAN-2026 (+10bps) bond but pared at the long (-1bp) end as investors demanded the APR-2049 (-5bps) bond. The average yield closed flat at the mid segment.
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