January 25, 2024/Cordros Report
EQUITIES
Sentiments in the Nigerian stock market remained positive as the All-Share Index advanced by 0.6% to close at 102,149.93 points. Today’s performance was supported by bargain hunting activities in SEPLAT (+10.0%) and GEREGU (+5.4%). Subsequently, the Year-to-Date return increased to +36.6%.
The total volume increased by 3.2% to 504.19 million units, valued at NGN10.30 billion, and exchanged in 12,235 deals. UBA was the most traded stock by volume and value at 74.88 million units and NGN2.25 billion, respectively.
On sectors, the Oil & Gas (+4.9%), Insurance (+2.0%), Banking (+1.4%), and Consumer Goods (+0.1%) indices advanced, while the Industrial Goods (-0.1%) index declined.
As measured by market breadth, market sentiment was positive (1.2x), as 32 tickers gained relative to 27 losers. UNIVINSURE (+10.0%) and SEPLAT (+10.0%) recorded the most significant gains of the day, while IKEJAHOTEL (-9.9%) and HONYFLOUR (-9.7%) topped the losers’ list.
CURRENCY
The naira depreciated by 2.1% to NGN900.96/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 180bps to 21.8%, in the absence of any significant outflow from the system.
Activities in the NTB secondary market were muted, as the average yield closed flat at 6.7%. Similarly, the average yield remained at 8.4% in the OMO segment.
The FGN bond secondary market traded quietly, as the average yield was unchanged at 13.5%.
Kindly see below our Mutual Fund prices and returns as of today.
