WED AUG 07 2024-theGBJournal| The All-Share Index gained 0.18% to settle at 97,098.98 points Wednesday after previous losses underpinned by sell off.
Gains in MTNN (+0.28%), GTCO (+1.47%) and ZENITHBANK (+1.37%) outweighed losses UBA (-0.48%), NESTLE (-1.81%) and TRANSCORP (-3.70%).
As a result, the year-to-date (YTD) return gained 18bps to 29.86%, while the market capitalisation gained N96.79 billion to close at N55.13 trillion.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 89.59%.
A total of 636.50m shares valued at N12.77 billion were exchanged in 9,744 deals. ACCESSCORP (+0.81%) led the volume chart with 112.62 million units traded while GTCO led the value chart in deals worth N3.34 billion.
Market breadth closed positive at a 1.24-to-1 ratio with advancing issues outnumbering declining ones. REDSTAREX (+10.00%) topped twenty-five (25) others on the gainer’s log while NEMETH (-7.69%) led twenty (20) others on the laggard’s table.
Meanwhile, the Naira also gained against the green back, rising 0.3% to N1,596.52/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
At the money market, the overnight lending rate contracted by 5bps to 25.9%, in the absence of any significant inflows into the system.
Trading in the NTB secondary market was bearish, as the average yield expanded by 34bps to 26.1%. Across the curve, the average yield increased at the short (+53bps), mid (+37bps) and long (+22bps) segments due to the sell-off of the 78DTM (+228bps), 106DTM (+192bps) and 302DTM (+113bps) bills, respectively.
Similarly, the average yield advanced by 42bps to 26.1% in the OMO segment.
Proceedings in the FGN bond secondary market were quiet, as the average yield closed flat at 19.6%.
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