December 16, 2021/Cordros Report
EQUITIES
Sentiments in the domestic bourse turned negative, as profit-taking activities in top cement player – DANGCEM (-1.2%) – triggered the market’s loss. Precisely, the All-Share Index declined by 0.2% to 42,270.23 points. Consequently, the Month-to-Date loss increased to -2.3%, while the Year-to-Date gain moderated to +5.0%.
The total volume traded increased by 10.3% to 249.43 million units, valued at NGN3.57 billion, and exchanged in 3,578 deals. FBNH was the most traded stock by volume and value at 79.14 million units and NGN955.87 million, respectively.
Analysing by sectors, the Oil and Gas (+0.5%), Banking (+0.5%), and Consumer Goods (+0.1%) indices posted gains, while the Insurance (-0.8%) and Industrial Goods (-0.7%) indices declined.
As measured by market breadth, market sentiment was negative (0.8x) as 19 tickers lost relative to 15 gainers. LIVESTOCK (-10.0%) and CAP (-5.7%) recorded the most significant losses of the day, while ROYALEX (+5.0%) and ROYALEX (+4.8%) topped the gainers’ list.
CURRENCY
The naira depreciated by 0.2% to NGN415.05/USD at the I&E window
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 300bps to 10.5% in the absence of any significant funding pressures on the system.
Trading in the NTB secondary market remained quiet as the average yield was unchanged at 4.5%. Similarly, the average yield was flat at 5.5% in the OMO segment.
The Treasury bond secondary market traded quietly, as the average yield was unchanged at 11.4%.
