Daily Market Roundup, Monday, 10th January, 2022

Dear Valued Investor,
Equity Market: Today, the equity market opened for the week on a slightly bullish note, up by 0.10% to close at 43,897.13 points. BUA Foods continues to dominate the gainers chart as Dangote Cement joined the party with a gain of 4.00%. However, the 5.00% loss in MTNN weakened today’s positive performance, hence, year-to-date gain of the market expanded marginally to close at 2.76%.Money Market: Today, system liquidity shrank significantly following CBN’s Fx Retail auction and CRR debits on Friday. As a result, system liquidity closed lower at N30.06bn surplus while funding rates (OPR & O/N) held firm at double digits to close at 13.75% and 14.50%, respectively.

Fixed Income: Another bullish session ensued in the bond market, with persistent demand seen at the short end of the benchmark curve. As a result, benchmark yield shed 2bps to close at 11.89%.

Today, the Nigerian Treasury Bills market traded on a quiet note, as market players await the first NTB Primary Market Auction for yield direction. However, we saw some buying interest across the curve by local players. NTB benchmark yield traded around 4.58% while OMO bills segment stayed muted at 5.52%.

FX Market: At the I&E window, naira lost 5k (0.12%) to close at $/N416.50 while daily turnover declined by 7.68% to print at $104.92m. External reserves remain at $40.5bn.

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