EQUITIES
Profit-taking activities continued today in the domestic bourse, as the selloff in ARADEL (-0.5%), NB (-5.7%), UBA (-2.0%) and GTCO (-1.1%) drove the All-Share Index lower by 0.4% to 138,159.25 points. Consequently, the Month-to-Date and Year-to-Date returns settled lower at -1.5% and +34.2%, respectively.
The total volume traded advanced by 18.5% to 482.76 million units, valued at NGN19.67 billion, and exchanged in 28,193 deals. ACCESSCORP was the most traded stock by volume at 43.03 million units, while ARADEL was the most traded stock by value at NGN6.46 billion.
Sectoral performance was broadly negative as the Insurance (-4.5%), Consumer Goods (-1.3%), Banking (-0.8%), (-0.9%) and Oil & Gas (-0.4%) indices declined, while the Industrial Goods (+0.2%) index advanced.
As measured by market breadth, market sentiment was negative (0.3x), as 13 tickers gained relative to 42 losers. LEGENDINT (-10.0%) and LEARNAFRCA (-10.0%) recorded the most significant losses of the day, while NSLTECH (+9.1%) and JOHNHOLT (+7.9%) led the gainers.
CURRENCY
The official FX rate appreciated by 0.3% to NGN1,521.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 27.0%, closing at a net long position (NGN1.37 trillion).
The NTB secondary market traded on a bullish note as the average yield contracted by 23bps to 18.6%. Across the curve, the average yield contracted at the short (-2bps) and long (-2bps) ends, driven by the demand for the 92DTM (-11bps) and 337DTM (-67bps) bills, respectively but expanded at the mid (+3bps) segment, driven by the selloff of the 169DTM (+67bps) bill. Conversely, the average yield expanded by 4bps to 25.6% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note, albeit with a bullish tilt as the average yield pared by 1bp to 16.8%. Across the benchmark curve, the average yield contracted at the mid (-3bps) segment, driven by the demand for the JUN-2033 (-9bps) bond, but remained unchanged at the short and long ends.
Cordros
