EQUITIES
The Nigerian equities market reversed yesterday’s losses as the gains in MTNN (+5.9%), WAPCO (+1.5%) and NB (+2.8%) spurred a 0.4% increase in the NGX ASI to 201,287.81points. Consequently, the Month-to-Date and Year-to-Date returns advanced to +4.4% and +29.4%, respectively.
The total volume of trades increased by 49.7% to 887.68 million units, valued at NGN35.56billion, and exchanged in 53,436 deals. WEMABANK was the most traded stock by volume at 184.13 million units while MTNN was the most traded stock by value at NGN9.08 billion.
Sectoral performance was mixed as the Consumer Goods (+0.2%) , Industrial Goods (+0.2%) and Oil & Gas (+0.1%) indices closed higher, while the Insurance (-3.6%) and Banking (-1.8%) indices closed lower.
As measured by market breadth, market sentiment was negative (0.4x), as 20 tickers gained relative to 48 losers. MULTIVERSE (+9.9%) and INTENEGINS (+9.5%) posted the most significant gains of the day, while NPFMCRFBK (-10.0%) and SKYAVN (-10.0%) led the laggards.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,382.58/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 19bp to 22.1% in the absence of any significant funding pressures on the system.
The Treasury bills secondary market traded on a quiet note, as the average yield remained unchanged at 17.7%. Across the curve, the average yield expanded at the short (+8bps) end following the sell pressure on the 9DTM (+33bps) bill but contracted at the mid (-1bp) and long (-4bps) segments driven by the demand for the 177DTM (-1bps), and 352DTM (-33bps) bills, respectively. Similarly, the average yield expanded by 15bps to 20.5% in the OMO segment.
Activities in the FGN bond secondary market were calm, with a bearish undertone, as the average yield expanded by 1bp to 15.5%. Across the benchmark curve, the average yield expanded at the mid segment (+4bps) due to the profit-taking activities on the JUN-2033 (+20bps) bond. The average yield remained unchanged at the short and long ends.
Kindly see below our Mutual Fund prices and returns as of today.
