September 20, 2022/Cordros Report
EQUITIES
In today’s trading session, the local bourse notched a 1bp gain to close at 49,445.31 points, driven by buying interest in FBNH (+5.0%). Thus, the Month-to-Date and Year-to-Date returns were unchanged at -0.8% and +15.8%, respectively.
The total volume of trades increased by 119.1% to 147.59 million units, valued at NGN2.39 billion, and exchanged in 3,323 deals. GTCO was the most traded stock by volume at 35.82 million units, while MTNN was the most traded stock by value at NGN860.43 million.
Sectoral performance was mixed, as the Oil & Gas (-2.3%) and Consumer Goods (-0.1%) indices closed lower, while the Banking (+0.2%) and Insurance (+0.2%) indices recorded gains. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.9x), as 12 tickers lost relative to 11 gainers. TOTAL (-10.0%) and LEARNAFRCA (-9.7%) topped the losers’ list, while RTBRISCOE (+10.0%) and FBNH (+5.0%) recorded the highest gains of the day.
CURRENCY
The naira appreciated by 0.1% to NGN436.25/USD at the I&E window.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 42bps to 11.3%, in the absence of any significant outflow from the system.
Activities in the treasury bills secondary market were lull, as the average yield closed flat at 7.6%. Similarly, the average yield was unchanged at 10.5% in the OMO segment.
Proceedings in the Treasury bond secondary market were quiet as the average yield closed flat at 12.6%.
