November 30, 2023/Cordros Report
EQUITIES
Bullish sentiments persisted in the local bourse as investors’ interest in AIRTELAFRI (+0.6%) drove a 0.1% increase in the All-Share Index to 71,365.25 points. Accordingly, the Month-to-Date and Year-to-Date returns advanced to +3.1% and +39.3%, respectively.
The total volume traded increased by 49.8% to 540.09 million units, valued at NGN10.24 billion, and exchanged in 6,516 deals. GTCO was the most traded stock by volume and value at 67.23 million units and NGN2.60 billion, respectively.
Sectoral performance was broadly negative, as the Insurance (-0.8%), Banking (-0.4%), Consumer Goods (-0.3%), and Oil & Gas (-0.1%) indices printed losses, while the Industrial Goods (+0.1%) index advanced.
As measured by market breadth, market sentiment was negative (0.8x), as 31 tickers lost relative to 25 gainers. NSLTECH (-9.7%) and UNITYBNK (-9.7%) recorded the highest losses of the day, while NNFM (+10.0%) and THOMASWY (+9.6%) topped the gainers’ list.
CURRENCY
The naira depreciated by 0.1% to NGN832.32/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 125bps to 15.5%, following inflows from FAAC disbursement (NGN583.60 billion).
Trading in the Nigerian Treasury bill secondary market was quiet, as the average yield closed flat at 10.2%. Elsewhere, the average yield declined by 1bp to 14.6% in the OMO segment.
Similarly, the Treasury bond secondary market traded on a calm note, as the average yield closed flat at 15.7%.
Kindly see below our Mutual Fund prices and returns as of today.
