MON 26 APRIL, 2021-theGBJournal- The domestic equities market opened the week with positive sentiments, as buying interests in NB (+1.6%) and WAPCO (+1.1%) spurred a 0.1% increase in the All-Share Index to 39,319.75 points. Consequently, the Month-to-Date gain increased to +0.7% while the Year-to-Date loss moderated to -2.4%.
The total volume of trades increased by 14.9% to 329.74 million units, valued at NGN2.06 million, and exchanged in 4,308 deals. TRANSCORP was the most traded stock by volume at 92.54 million units, while GUARANTY was the most traded by value at NGN513.55 million.
Analysing by sectors, the Insurance (+2.2%) and Industrial Goods (+0.1%) indices recorded gains, while the Oil & Gas (-0.3%) and Banking (-0.1%) indices declined. The Consumer Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.6x), as 25 tickers gained relative to 16 losers. TRANSCORP (+10.0%) and LINKASSURE (+10.0%) topped the gainer’s list, while CONOIL (-9.3%) and IKEJAHOTEL (-9.1%) 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 NGN485.00/USD, respectively.
Money market & Fixed Income
The overnight lending rate contracted by 250bps to 14.3%, following inflows from FGN Bond coupon payments (NGN113.09billion).
Trading in the NTB secondary market was flat, as the average yield was flat at 4.5%. Elsewhere, the average yield at the OMO segment pared by 1bp to 7.7%.
The Treasury bond secondary market was mixed, with bearish sentiments, as the average yield expanded slightly by 1bp to 11.5%. Across the benchmark curve, average yield contracted at the short (-1bp) and mid (-5bps) segments, following demand for the JAN-2022 (-2bps) and APR-2029 (-15bps) bonds. However, average yield expanded at the long (+7bps) end due to sell-off of the MAR-2035 (+30bps) bond.-With Cordros Research