TUE, JUNE 27 2023-theGBJournal |A total turnover of 552.69 million units of securities (equities, fixed income, derivatives) worth N13.1 billion in 8.052 deals were recorded Monday at the NGX Exchange, as the equities market kicked off this week’s trading on a bullish note.
Demand for BUACEMENT (+2.5%) and GTCO (+4.0%) spurred the market performance, pushing the All-Share Index up by 0.2% to 59,338.76 points.
Accordingly, the Month-to-Date and Year-to-Date returns increased to +6.4% and +15.8%, respectively.
The total volume traded declined by 12.0% to 552.69 million units, valued at NGN13.06 billion, and exchanged in 8,052 deals. ACCESSCORP was the most traded stock by volume at 74.60 million units, while BUACEMENT was the most traded stock by value at NGN3.86 billion.
From a sectoral perspective, gains in the Banking (+2.4%), Insurance (+1.7%), Industrial Goods (+1.0%), Oil & Gas (+0.5%), and Consumer Goods (+0.1%) indices reflected the overall market performance.
As measured by market breadth, market sentiment was positive (2.0x), as 46 tickers gained relative to 23 losers. ACADEMY (+10.0%) and ABCTRANS (+10.0%) recorded the highest gains of the day, while UNITYBNK (-10.0%) and JAPAULGOLD (-9.2%) topped the losers’ list.
The naira appreciated by 0.3% to N768.17/USD at the I&E window.
The overnight lending rate contracted by 60bps to 2.8%, in the absence of any significant inflows into the system.
The NTB secondary market traded with bullish sentiments, as the average yield contracted by 11bps to 6.3%. Across the curve, the average yield closed flat at the short and mid segments but contracted at the long (-19bps) end following buying interest in the 241DTM (-187bps) bill.
In the same vein, the Treasury bond secondary market traded with bullish sentiments, as the average yield contracted by 7bps to 13.7%. Across the benchmark curve, the average yield closed flat at the short end; but dipped at the mid (-7bps) and long (-11bps) segments as investors demanded the APR-2029 (-13bps) and APR-2037 (-67bps) bonds, respectively.
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