Daily Market Roundup, Thursday, 18th November, 2021

Dear Valued Investor,
Money Market: System liquidity opened strong at N160bn. However, the financial system closed with a lean surplus of  N11.25bn as banks storm the standing lending financing and Repo windows to cover short-term liquidity requirements. Notwithstanding, open buy-back rate closed lower at 13.56% while overnight rate was unmoved.

FX Market: At the I&E window, the naira consolidated its stable stance with a gain of 30k to close at $/N414.80. Today, daily turnover surged by 377.98% to settle at $298.88m. External reserves improved to close at $41.5bn.

Fixed Income: Today, the bond market traded actively, with decent bids matching offers as market players cherry-picked across the curve. However, benchmark yield traded sideways at 11.71% on average.

The T-bills market saw positive sentiments dominate, particularly at the long end of the spectrum, driven by buy interests from the local players. Yield trended lower by 14bps to close at 5.15%. OMO

Equity Market: The All-Share Index lost 0.15% to settle at 43,285.97 points while market capitalisation shed ₦33.4bn to close at ₦22.6tn. Losses in GTCO (-0.76%), WAPCO (-1.96%) and NGXGROUP (-2.23%) offset price gains in Airtel Africa (+0.33%) and VITAFOAM (+10.00%). Today’s performance reduced the year-to-date gain of the market to 7.49%.
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