Daily Capital Market Roundup, 21st April 2021

Dear Valued Investor,

The Equity Market closed up again today, gaining 0.29% to extend the gaining streak to four consecutive trading days. This consecutive run was last experienced in January 2021.

All-Share Index closed at 39,128.34pts and market capitalization at N20.48 trillion as Investors gained N18.3 billion.

Today’s performance abates the year-to-date loss of the market to -2.84%.

The banking index was the best performing sectoral index (2.25%), buoyed by buying interest in GTBank and UBN while the insurance index was the worst-performing index down by -1.38%.

A total of 239.24 million units (-29.43%) of shares were traded with a value of N1.663 billion (-38.48%).

The market recorded 22 gainers and 21 losers (Tue: 24 against 12).

GTBank and Conoil appreciated while Guinness and Wema Bank lost.

The treasury bills space was relatively active today with few offers seen mainly on May and October 2021 maturities, while buy interest persisted on long-dated OMO bills and NTBs.

We saw an uptrend in yield across most maturities while others remained flat. The only decline in yield was seen in OMO August 2021 maturity.

Yields were majorly flat across benchmark bonds today. However, we saw upward movement in all 2030s except 2037 that closed flat. Trading by market players was largely cautious with some participants taking speculative positions in anticipation of the outcome of the bond auction.

We expect the outcome of the bond auction to provide further direction on trading activities in the coming weeks.

I&E spot rate opened and closed at 409.54 and 410.00 respectively, a decline of -0.16%, with the window high being quoted at 437.41.

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