…Zenith Bank is most traded stock by value at N166.08 million
MON 24 MAY, 2021-theGBJournal- Activities in the domestic bourse carried on last week’s bearish performance, as profit-taking witnessed in NESTLE (-2.5%) drove the index lower.
Thus, the All-Share Index declined by 0.1% to 38,287.58 points. Accordingly, Month-to-date and Year-to-Date losses increased to -3.9% and -4.9%, respectively.
The total volume of trades decreased by 19.1% to 141.09 million units, valued at NGN1.09 billion and exchanged in 3,566 deals. UAC-PROP was the most traded stock by volume at 17.34 million units, while ZENITHBANK was the most traded stock by value at NGN166.08 million.
Analysing by sectors, the Consumer Goods (+0.5%), Oil & Gas (+0.2%) and Industrial Goods (+0.1%) indices recorded gains, while the Insurance (-0.7%) and Banking (-0.7%) indices declined.
As measured by market breadth, market sentiment was neutral (1.0x), as an equal number of tickers (17) recorded gains and declines. ROYALEX (+9.7%) and REGALINS (+8.8%) recorded the most significant gains of the day, while ABCTRANS (-9.8%) and ENAMELWA (-9.8%) topped the losers’ list.
The naira appreciated at the I&E window by 0.2% to NGN411.25/USD but depreciated by 0.2% to NGN486.00/USD in the parallel market.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 175bps to 15.3%, following inflows from FGN bond coupon payments (NGN9.32 billion).
The NTB secondary market was mixed, as the average yield stayed flat at 5.8%. Elsewhere, the OMO segment’s average yield expanded by 36bps to 9.6%.
Trading in the Treasury bond secondary market ended on a bearish note, as the average yield expanded slightly by 1bp to 12.3%. Across the benchmark curve, average yield expanded at the short (+1bp), and mid (+2bps) segments due to sell-offs of the JAN-2026 (+5bps) and MAR-2027 (+8bps) bonds, respectively; the long end was flat.-With Cordros Research