MON, 21 SEPT, 2020-theGBJournal-The All Share Index headed into the new week 1.78% up to close at 25,574.35 points but shares traded flat as Month-to-Date gain and Year-to-Date loss stayed flat also, at 1.0% and -4.7% respectively.
The total volume of trades increased by 1.4% to 196.12 million units, valued at NGN1.73 billion and exchanged in 3,542 deals. FBNH was the most traded stock by volume at 43.39 million units while MTNN was the most trade stock by value at NGN769.68 million.
PRESCO, UACN, INTBREW, MTNN and GUARANTY were the leaders of market advancers closing 0.9%, 0.35%, 0.1%, 0.1% and 0.05% respectively higher at the end of day’s trading.
Sectoral performance was mixed, following gains in the Insurance (+1.4%) and Consumer Goods (+0.1%) indices gained and loss in the Banking (-0.1%) index. The Industrial Goods and Oil & Gas indices were flat.
Market sentiment, as measured by the market breadth, was negative (0.6x), as 9 tickers gained relative to 16 losers. CHAMPION (-10.0%) and REDSTAREX (-9.2%) recorded the largest losses of the day while ABCTRANS (+10.0%) and WAPIC (+8.1%) topped the gainers’ list.
The naira was flat at NGN386.00/USD and NGN465/USD at the I&E window and parallel market, respectively.
Money Market & Fixed Income
The overnight lending rate contracted by 100bps to 2.0%, as system liquidity – estimated at NGN533.35 billion— remains healthy.
Trading in the NTB secondary market was bearish, as average yield expanded by 10bps to 1.7%. Across the curve, yield contracted at the short (-6bps) end, following buying interests in the 10DTM (-18bps) instrument, while they expanded at the mid (+23bps) and long (+16bps) segments, due to sell-offs of the 157DTM (+30bps) and 220DTM (+28bps) instruments, respectively. On the other hand, average yield contracted by 24bps to 2.0% at the OMO secondary market.
Trading in the Treasury bond secondary market was bearish, as average yield expanded by 3bps to 7.5%. Across the curve, yield expanded at the short (+4bps) and long (+5bps) ends, due to sell-offs of the JAN-2022 (+12bps) and MAR-2050 (+13bps) bonds, respectively, while they contracted at the mid (-2bps) segment, following demand for the JUL-2030 (-8bps) bond.