THUR 22 APRIL, 2021-theGBJournal- The Nigerian equities market traded with mixed sentiments, as interest in UBA (+2.1%), FBNH (+1.4%), and ACCESS (+0.7%) offset losses in Tier 1 bank counterpart ZENITHBANK (-1.4%). Thus, the All-Share Index traded flat at 39,131.80 points, with Month-to-Date and Year-to-Date returns flat at +0.2% and -2.8%, respectively.
The total volume of trades decreased by 4.7% to 228.1 million units, valued at NGN2.64 million, and exchanged in 3,656 deals. GUARANTY was the most traded stock by volume and value at 37.29 million units and NGN1.16billion, respectively.
On sectors, the Oil & Gas (+0.2%) index gained, the Insurance (-0.4%) index declined while the Industrial Goods, Banking and Consumer Goods indices closed flat.
As measured by market breadth, market sentiment was positive (1.3x), as 17 tickers advanced relative to 13 losers. CUTIX (+7.0%) and PZ (+6.9%) topped the gainer’s list, while EKOCORP (-10.0%) and HONYFLOUR (-8.5%) recorded the most significant losses of the day.
The naira was flat at the I&E window and parallel market at NGN410.00/USD and NGN486.00/USD, respectively.
Money Market & Fixed Income
The overnight lending rate expanded by 117bps to 15.2%, following outflows for CBN’s weekly OMO auction (NGN20.00 billion).
Trading in the NTB secondary market was mixed, as the average yield was flat at 4.7%. Elsewhere, the average yield at the OMO segment contracted by 27bps to 7.5%.
The Treasury bond secondary market traded with bearish sentiments, as the average yield expanded by 9bps to 11.5%. Across the benchmark curve, the average yield was flat at the short end but grew at the mid (+28bps) and long (+7bp) segments, following sell-offs of the APR-2029 (+55bps) and APR-2049 (+35bps) bonds, respectively.-With Cordros Research