Daily Capital Market Roundup, 27th April 2021

Dear Valued Investor,

The equity market declined marginally by -0.04% to snap 7-day gaining streak.

The All-Share Index closed with 39,305.48 points while market capitalization also declined to close at N20.57 trillion.

Today‚Äôs performance expands the year-to-date loss of the market to -2.40%.

The insurance index was the best performing index (0.96%)while The Banking index was the worst-performing index, down by -0.60%

The market recorded 20 gainers as against 18 losers (Mon: 25 against 17).

OKOMUOIL  and UCAP  appreciated while HONYFLOUR and GTBank lost.

Yields closed flat today across all NT-bills maturities as liquidity strain continues to weigh down on trading activities.

The DMO is scheduled to conduct a Primary Market Auction tomorrow.   Maturities worth over N88 billion will be rolled over across 364-day (N71.07 billion), 182-day (N6.00 billion), and 91-day (N11.39 billion)

In the OMO Bills market, activities closed flat too as yields were unchanged except for December 2021 maturity that declined by 1bps.

In the Bond market, yields rose sharply by 43 bps compared to yesterday when it closed on a positive note with a 1 basis point decline in yield. Trading was bearish as Offers were seen across the curve despite limited bids, 2037, 2045 and 2049 were the most traded maturities.

We expect the lull in the treasury bills market to continue as players anticipate the NTB auction scheduled for Wednesday while bearish sentiments hold in the FGN bond market.
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