The Nigerian equities market on Wednesday closed in the positive territory amid pockets of bargain hunting activities with the overall performance indicators, the All-Share Index and market capitalisation, appreciating by 0.04 percent each.
The All- Share Index appreciated by 10.08 basis points or 0.04 percent to close at 25,455.69 points as against 25,445.61 recorded on Tuesday, while market capitalisation grew by N3.531 billion to close at N8.756 trillion from N8.752 recorded in the previous trading day.
Just like it did on Tuesday, brewery major, Nigerian Breweries led 12 others on the gainers’ table when it appreciated by 141 kobo to close at N108.00 per share, followed by Etransact which added 29 kobo to its share price at N3.23 per share, Champion Breweries gained 25 kobo to close at N3.10 per share, Tiger Brands nicked 18 kobo to close at N2.50 per share, while FBN Holdings grabbed 10 kobo to close at N3.50 per share, among others.
On the other hand, fizzy drinks manufacturer, 7 UP Bottling Company, sat atop the decliners’ table when it recorded a setback of 700 kobo to close at N147.00 per share, followed by construction giant, Julius Berger Nigeria which depreciated by 180 kobo to close at N43.00 per share, building materials’ Ashaka Cement lost 102 kobo to close trading at N19.56 per share, Alumaco slipped by 38 kobo to close at N7.37 per share, while Portland Paints and Products shed 29 kobo to close at N2.75 per share, among others.
NEM emerged the most traded equity with an exchange of 39.102 million shares worth N29.722 million. It was trailed by Sterling Bank; having accounted for 22.877 million shares valued N36.574 million, while Guaranty Trust Bank sold 18.846 million shares worth N264.072 million, Fidelity Bank exchanged 18.072 million shares valued N24.268 million while Diamond Bank traded 17.252 million shares worth N21.229 million.
The interbank lending rates declined further for all placement tenors amid system liquidity ease. Overnight funds rate, NIBOR for one month, three months and six months tenors fell to 4.33 percent, 8.45 percent, 10.45 percent and 12.02 percent respectively.
Meanwhile treasury bills true yields mostly declined amid buy pressure – yields on the one month, three months and sixmonths tenored bills decreased to 4.41 percent, 7.18 percent and 8.72 percent respectively. However, yields on the 12 months tenored bill rose to 10.57 percent. Meanwhile, value of transactions on treasury bills fell 50.87 percent to N78.41 billion.
Over the counter (OTC) FGN bond prices appreciated and yields decreased across the board amid bargain hunting opportunities. The 20-year, 10.00 percent FGN July 2030 paper, 10-year, 16.39 percent FGN January 2022 bond and 7-year, 16.00 percent FGN June 2019 bond gained N1.08 (yield fell to 12.33 percent), N0.21 (yield decreased to 11.35 percent) and N0.03 (yield declined to 10.32 percent) respectively, while value of bond transactions declined by 27.64 percent to N25.70 billion.