WED, JUNE 07 2023-theGBJournal |The Nigerian equities traded marginally lower in today’s session, as profit-taking activities on UBN (-8.9%) undermined market performance.
As a result, the All-Share Index dipped slightly by 2bps to 56,025.56 points. Accordingly, the MTD and YTD gains printed +0.5% and +9.3%, respectively.
The total volume traded advanced by 23.3% to 397.62 million units, valued at NGN6.54 billion, and exchanged in 5,613 deals.
NPFMCRFBK was the most traded stock by volume at 100.76 million units, while AIRTELAFRI was the most traded stock by value at NGN2.71 billion.
On sectoral performance, the Insurance (+3.6%) and Oil & Gas (+0.4%) indices recorded gains, while the Banking (-0.3%) index declined. Elsewhere, the Industrial Goods and Consumer Goods indices closed flat.
As measured by market breadth, market sentiment was positive (2.7x), as 32 tickers gained relative to 12 losers. HONYFLOUR (+9.9%) and ETERNA (+9.9%) topped the gainers’ list, while UBN (-8.9%) and FLOURMILL (-4.2%) recorded the highest losses of the day.
The naira closed flat at N464.67/USD at the I&E window.
The overnight lending rate remained at 12.0%, as the system liquidity closed at a net long position (NGN659.87 billion).
Quiet trading continued in the Nigerian Treasury bills secondary market as participants shifted their focus to today’s NTB PMA. Consequently, the average yield remained at 6.4%.
The Treasury bond secondary market closed on a mixed note, albeit with a bearish bias, as the average yield expanded by 1bp to 13.8%. Across the benchmark curve, the average yield closed flat at the short and mid segments but expanded slightly at the long (+1bp) end due to the selloff of the MAR-2050 (+10bps) bond.
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