{"id":47185,"date":"2021-03-03T22:22:46","date_gmt":"2021-03-03T21:22:46","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=47185"},"modified":"2021-03-03T22:27:49","modified_gmt":"2021-03-03T21:27:49","slug":"profit-taking-on-mtn-wapco-dips-equity-market-by-0-4-on-nse","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/profit-taking-on-mtn-wapco-dips-equity-market-by-0-4-on-nse\/","title":{"rendered":"Profit Taking On MTN, WAPCO And Others Dips Equity Market By 0.4% On NSE"},"content":{"rendered":"

 <\/p>\n

Bearish sentiments on Wednesday persisted in the domestic equities market, following profit taking on MTNN (-2.3%) and WAPCO (-7.1%) stocks.<\/p>\n

Pertinently, the NSE ASI declined by 0.4% to 39,522.06 points. Consequently, the Month-to-Date and Year-to-Date losses increased to -0.7% and -1.9%, respectively.<\/p>\n

The total volume traded increased by 9.8% to 244.34 million units, valued at NGN4.13 billion, and exchanged in 4,714 deals. ZENITHBANK was the most traded stock by volume and value at 41.38 million units and NGN1.06 billion, respectively.<\/p>\n

According to Cordros Securities, performance across sectors was broadly negative, following losses across the Insurance (-0.9%), Consumer Goods (-0.5%) and Industrial Goods (-0.4%) indices. The Oil & Gas (+5.0) index was the lone gainer of the day while the Banking Index closed flat.<\/p>\n

“As measured by market breadth, market sentiment remained negative (0.6x), as 29 tickers declined, relative to 16 gainers. NEM (-9.9%) and CHAMPION (-9.8%) topped the losers\u2019 list, while SEPLAT (+10.0%) and AIICO (+5.2%) recorded the largest gains of the day.<\/p>\n

CURRENCY<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

The naira appreciated at the I&E window by 0.2% to NGN411.00\/USD but was flat at NGN480.00\/USD in the parallel market.<\/p>\n

MONEY MARKET & FIXED INCOME<\/p>\n

The overnight lending rate expanded by 280bps to 7.6%, in the absence of any significant inflows to the system.<\/p>\n

The NTB secondary market was slightly bullish, as the average yield in the space pared by 1bp to 1.5%. Across the curve, average was flat at the short and long ends but declined at the mid (-4bps) segment due to demand for the benchmark 6-month bill. Similarly, the average yield pared by 2bps to 6.1% at the OMO secondary market.<\/p>\n

The Treasury bonds secondary market was also bullish, as the average yield pared by 5bps to 9.0%. Across the curve, the average yield contracted at the short (-4bps), mid (-6bps) and long (-6bps) segments following buying interests in the APR-2023 (-14bps), FEB-2028 (-22bps) and JUL-2045 (-38bps) bonds, respectively.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Bearish sentiments on Wednesday persisted in the domestic equities market, following profit taking on MTNN (-2.3%) and WAPCO (-7.1%) stocks.<\/p>\n","protected":false},"author":6,"featured_media":35220,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[576,4282],"coauthors":[2391],"class_list":["post-47185","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-capital-market","tag-stock-market"],"yoast_head":"\nProfit Taking On MTN, WAPCO And Others Dips Equity Market By 0.4% On NSE - National Wire<\/title>\n<meta name=\"description\" content=\"Bearish sentiments on Wednesday persisted in the domestic equities market, following profit taking on MTNN (-2.3%) and WAPCO (-7.1%) stocks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/profit-taking-on-mtn-wapco-dips-equity-market-by-0-4-on-nse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Profit Taking On MTN, WAPCO And Others Dips Equity Market By 0.4% On NSE - 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