Equities Market Closes Week In Green Zone As NSE All-Share Index Up Further By 1.56%

Equities market closed the day’s trading session in the green zone as the NSE All-Share Index and Market Capitalisation appreciated by 1.56% to close at 36,804.75 and ₦19.24 trillion respectively. The Year-to-Date (YtD) and the Quarter-to-Date (QtD) returns stand at 37.12% and 37.17%, while the Month-to-Date (MTD) and Week-to-Date returns stand at 5.03%and 7.46% respectively.

NSE Sector Indices:

Of all the Industries on the NSE within our coverage, all 6 sectors advanced in points. The NSE sector indices that advanced in points were NSE INSURANCE (+4.02%), NSE PREMIUM (+3.21%), NSE 30 (+1.81%), NSE OIL &GAS (+1.30%), NSE BANKING (+0.36%) and NSE CONSUMER GOODS (+0.12%).

Source: Nigerian Stock Exchange (NSE) / PAC Research

The market breadth (gainers/losers) of 4.29x for the day indicates that the number of buyers outpaced the number of sellers in the market today. At the end of the day’s trading, 31 stocks advanced as 7 stocks declined; CUTIX (+9.88%), CHAMPION (+9.88%) and OANDO (+9.79%) led the gainers’ chart while CILEASING (-9.83%), LASACO (-6.25%) and LINKASSURE (-2.17%) led the losers’ chart for the day.

The day’s trading activities by volume was led by NIGERINS (130.24million), GUARANTY (23.43million) and MANSARD (21.75million) while the activity by value was led by DANGCEM (₦0.87billion), GUARANTY (₦0.79billion) and MTNN (₦0.64billion).

Outlook:

Equities market closed the week in the green zone as NSE All-Share Index up further by 1.56%. There are optimisms that the bulls will recover the market in the coming days. We, therefore, advise our clients not to engage in panic selling as we expect the equity market to maintain positive growth due to the expectation of dividend payment in early 2021 and lower yields in fixed income market.

FIXED INCOME REPORT AS AT DECEMBER 17, 2020

Treasury Bills Market:

In the treasury bills markets, the average yield decreased by 11bps as it closed at 0.45% today (vs. 0.55% average market yield of last trading session). At the end of the trading session today, the 11-Mar-21, 10-Jun-21 and 28-Oct-21 bills closed at 0.37% (-0.09%), 0.32% (-0.23%), and 0.65% (0.00%) respectively.

FGN Bond Market:

In the bond market, the average market yield decreased by an average of 7bps as it closed at 4.11% as against 4.12% of the previous session. The result for the 14-Nov-2021, 27-Apr2023, 23-Mar-2025, 17-Mar-2027, 20-Nov-2029, 18-Mar-2036 and 26-Apr-2049 bonds traded are 1.24% (-0.05%), 2.22% (-0.01%), 3.25% (-0.01%), 4.86% (0.00%), 6.17% (0.00%), 7.16% (0.00%) and 7.58% (0.00%) respectively.

Foreign Exchange Market:

At the FX Market (CBN Official Window), Naira remains unchanged, closing at ₦379.00/$ today compared to the ₦379.00/$ it traded in the previous trading session. On Investors and Exporters Window, Naira appreciated by 67 kobo against the dollar as it closed at ₦394.00/$ today (vs. ₦394.67/$ it closed in the previous trading session).

Money Market:

In the Money Market today, the REPO rate increased by an average of 73bps to tighten liquidity. At the end of the trading session, the call, 1M, 2M, 3M rate closed at 0.50% (-0.01%), 1.00% (0.47%), 3.00% (1.47%) and 4.00% (0.97%) respectively. However, Open-Buy-Back (OBB) and Overnight (O/N) rate increased by an average of 33bps, closing at 1.00% and 1.25% respectively.