THUR 06 MAY, 2021-theGBJournal-The local bourse posted a third consecutive decline in today’s session, as investors sold off on bellwethers – MTNN (-4.7%) and DANGCEM (-2.5%). Consequently, the All-Share Index moderated by -0.8% to 39,114.73 points. Accordingly, the Month-to-date and Year-to-Date losses increased to -1.8% and -2.9%, respectively.
The total volume of trades increased by 15.2% to 402.51 million units, valued at NGN4.81 billion, and exchanged in 4,342 deals. ACCESS was the most traded stock by volume and value at 105.87 million units and NGN844.21 million, respectively.
Across sectors, the Oil & Gas (+6.5%), Banking (+1.6%), Consumer Goods (+0.3%) and Insurance (+0.2%) indices recorded gains, while the Industrial Goods (-1.2%) index declined.
As measured by market breadth, market sentiment was positive (1.2x), as 24 tickers gained, relative to 20 losers. CONOIL (+10.0%) and COURTVILLE (+10.0%) were the top gainers of the day, while BOCGAS (-1.4%) and LIVESTOCK (-0.2%) topped the losers’ list.
The naira depreciated at the I&E window by 0.1% to NGN411.00/USD but traded flat at NGN485.00/USD in the parallel market.
Money Market & Fixed Income
The overnight lending rate expanded by 25bps to 15.8%, following debits for CBN’s weekly OMO auction.
The NTB secondary market traded on a mixed note, as the average yield was flat at 4.7%. Similarly, the average yield at the OMO segment was flat at 8.1%.
Trading in the Treasury bond secondary market remained bearish, as the average yield expanded by 4bps to 12.1%. Across the benchmark curve, the average yield expanded at the mid (+19bps) segment due to sell-off of the APR-2029 (+22bps) bond but contracted at the long (-1bp) end, following demand for the APR-2049 (-4bps) bond; the mid-segment was flat.-With Cordros Research