EQUITIES
The local bourse ended today’s session on a negative note as losses in OANDO (-10.0%), TRANSPOWER (-10.0%) and UBA (-5.6%) drove the All-Share Index lower by 0.3% to 114,910.16 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at +2.8% and +11.6%, respectively.
The total volume of trades rose by 9.1% to 787.31 million units, valued at NGN25.67 billion, and exchanged in 23,170 deals. ZENITHBANK was the most traded stock by volume at 96.23 million units, while GTCO was the most traded stock by value at NGN6.24 billion.
On sectors, the Oil & Gas (-1.3%), Consumer Goods (-0.5%) and Banking (-0.2%) indices declined while the Insurance (+0.4%) and Industrial Goods (+0.2%) indices advanced.
As measured by market breadth, market sentiment was negative (0.9x), as 29 tickers lost relative to 33 gainers. TRANSPOWER (-10.0%) and OANDO (-10.0%) led the losers, while MBENEFIT (+10.0%) and CILEASING (+10.0%) recorded the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 0.4% to NGN1,550.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 3bps to 26.9% following inflows from OMO maturities (NGN975.88 billion).
Proceedings in the Treasury bill secondary market were calm with a bullish undertone, as the average yield contracted by 1bp to 20.6%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-1bp) segments, driven by the demand for the 86DTM (-1bp), 177DTM (-1bp) and 352DTM (-2bps) bills, respectively. Conversely, the average yield expanded by 88bps to 26.9% in the OMO segment.
The FGN bond secondary market traded on a quiet note, as the average yield remained unchanged at 18.5%.
