MON, JULY 31 2023-theGBJournal |The NGX All-Share Index shed 1.1% to close at 64,337.52 points Monday, picking off from where it left off last week.
The market performance was driven by sell pressures on MTNN (-3.7%),and as a result, the Month-to-Date and Year-to-Date gains moderated to +5.5% and +25.5%, respectively.
The total volume traded advanced by 46.5% to 673.42 million units, valued at NGN6.47 billion, and exchanged in 9,788 deals.
ABBEYBDS was the most traded stock by volume at 112.26 million units, while MTNN was the most traded stock by value at N1.01 billion.
Performance across sectors was mixed, as the Banking (-2.6%) and Consumer Goods (-1.4%) indices declined, while the Insurance (+1.6%) and Oil & Gas (+0.4%) indices advanced. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.4x), as 49 tickers lost relative to 18 gainers. CAVERTON (-10.0%) and LIVESTOCK (-10.0%) topped the loser’s list, while LINKASSURE (+10.0%) and MANSARD (+10.0%) recorded the highest gains of the day.
Meanwhile, the naira appreciated by 2.5% to N756.94/USD at the I&E window.
At the money market, the overnight lending rate expanded slightly by 2bps to 1.4%, in the absence of any significant outflow from the system.
The NTB secondary market traded with mixed sentiments, albeit with a bearish tilt, as the average yield expanded by 1bp to 7.1%.
Across the curve, the average yield closed flat at the short and mid segments but increased at the long (+2bps) end due to sell pressures on the 311DTM (+23bps) bill.
Elsewhere, the Treasury bond secondary market traded with bullish sentiments, as the average yield contracted by 2bps to 13.2%.
Across the benchmark curve, the average yield dipped at the short (-1bp), mid (-6bps), and long (-1bp) segments as investors demanded the MAR-2025 (-2bps), APR-2029 (-15bps), and MAR-2050 (-7bps) bonds, respectively.
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