THUR. 09 FEB, 2023-theGBJournal| The NGX All-Share Index (ASI) fell by 0.12% to settle at 54,359.90 points.
The market’s weak performance was primarily driven by selloffs in ZENITHBANK (-0.40%), GTCO (-0.20%), NB (-2.63%) and GEREGU (-2.44%).
Nevertheless, the market remains on track for another weekly gain. As a result, the ASI’s year-to-date (YTD) return fell to 6.07% and the market capitalization lost N36.57bn to close at N29.61trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 67.69%.
A total of 222.58m shares valued at N3.04bn were exchanged in 3,287 deals. GTCO (-0.20%) led the volume and value charts with 22.32m shares traded in deals worth N560.37m.
Market breadth closed negative at a 1.88-to-1 ratio, with declining issues outnumbering advancing ones. GLAXOSMITH (-7.91%) topped fourteen others on the laggard’s log, while CHAMS (+8.33%) led seven others on the leader’s table.
Meanwhile, activities in the Nigerian Treasury bill market were bullish, as the average yield contracted by 7bps to 1.5%.
Across the curve, the average yield closed flat at the short and long ends, but declined at the mid (-33bps) segment following participants’ interest in the 119DTM (-98bps) bill. Similarly, the average yield contracted by 27bps to 1.9% in the OMO segment.
Proceedings in the FGN bond secondary market were bullish, as the average yield contracted by 12bps to 12.7%. Across the benchmark curve, the average yield dipped at the short (-33bps) end following investors’ demand for the MAR-2025 (-173bps) bond, but closed flat at the mid and long segments.
The overnight lending rate closed flat at 10.8%, amid the debit for net NTB issuance (NGN200.00 billion) while the naira was flat at NGN461.10/USD at the I&E window.
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