WED 21 APRIL, 2021-theGBJournal- The local bourse extended the previous session’s gains, as the All-Share index advanced by 0.3% to 39,128.34 points. Investors’ interests in GUARANTY (+4.2%) and WAPCO (+6.8%) drove the performance. Consequently, the Month-to-Date gain turned positive (+0.2%), while the Year-to-Date loss moderated to -2.8%.
The total volume of trades decreased by 29.4% to 239.25 million units, valued at NGN1.66 billion, and exchanged in 3,746 deals. ACCESS was the most traded stock by volume at 28.18 million units, while GUARANTY was the most traded stock by value at NGN423.11 million.
Analysing by sectors, the Banking (+2.3%), Industrial Goods (+0.4%) and Oil & Gas (+0.3%) indices recorded gains, while the Insurance (-1.3%) index declined. The Consumer Goods index was flat.
As measured by market breadth, market sentiment was positive (1.1x), as 22 tickers gained, relative to 20 losers. CONOIL (+10.0%) and STUDPRESS (+9.9%) recorded the most significant gains of the day, while GUINNESS (-9.9%) and PORTPAINT (-9.9%) topped the losers’ list.
The naira appreciated at the I&E window by 0.2% to NGN410.00/USD but stayed flat at NGN486.00/USD in the parallel market.
Money Market & Fixed Income
The overnight lending rate expanded by 150bps to 14.0%, following outflows for FX Invisibles & SMEs Auctions.
The NTB secondary market closed on a bearish note, as the average yield expanded by 14bps to 4.7%. Across the curve, the average yield expanded at the short (+44bps) and mid (+14bps) segments following sell-offs of the 51DTM (+55bps) and 128DTM (+39bps) instruments, respectively; the long end was flat. Similarly, the average yield at the OMO segment expanded by 29bps to 7.5%.
Trading in the Treasury bond secondary market was bearish, as the average yield expanded by 8bps to 11.4%. Across the benchmark curve, the average yield expanded at the short (+7bps), mid (+3bps) and long (+11bps) segments due to sell-offs of the JUL-2021 (+46bps), JUL-2030 (+12bps) and JUL-2034 (+50bps) bonds, respectively.