EQUITIES
Sentiments remained bullish in the local bourse following sustained interest in OANDO (+7.6%). Thus, the All-Share Index advanced by 0.1% to close at 96,873.74 points, pushing the Month-to-Date and Year-to-Date returns to +0.3% and +29.6%, respectively.
The total trading volume declined by 5.0% to 473.00 million units, valued at NGN10.41 billion, and exchanged in 12,532 deals. ACCESSCORP was the most traded stock by volume at 106.28 million units, while OANDO was the most traded stock by value at NGN4.32 billion.
On sectors, the Insurance (-0.4%), Consumer Goods (-0.3%), and Banking (-0.1%) indices declined, while the Industrial Goods index closed flat. Elsewhere, the Oil & Gas (+0.6%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was mixed (1.0x), as 29 tickers gained relative to 28 losers. GUINEAINS (+10.0%) and CILEASING (+10.0%) recorded the most significant gains of the day, while RTBRISCOE (-10.0%) and ABBEYBDS (-10.0%) topped the losers’ list.
CURRENCY
The naira depreciated by 1.6% to NGN1,611.34/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 123bps to 23.5% following debits for the OMO auction (NGN459.60 billion) conducted yesterday.
The Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 19bps to 20.9%. Across the curve, the average yield declined at the short (-1bp), mid (-1bps), and long (-39bps) segments, driven by participants’ demand for the 65DTM (-1bp), 156DTM (-2bps), and 233DTM (-270bps) bills, respectively. Meanwhile, the average yield pared by 1bp to 22.8% in the OMO segment.
The Treasury bond secondary market traded in a lull as the average yield was flat at 18.5%.
