Bullish sentiments dominated trading activities on the Nigerian bourse this week as the All Share Index advanced by 2.63% WoW to settle at 41,176.14pts. All our coverage sectors closed positive, led by the NSEINS10 (+17.48%) and NSEOILG5 (+7.25%). JAPAULGOLD (+56.70%) was the top gainer for the second consecutive week, while CUTIX (-12.92%) emerged as the week’s biggest loser.
The Nigerian Bureau of Statistics (NBS), earlier today released the inflation numbers for December 2020. The report reveals headline inflation stood at 15.75% YoY in December – a 0.86% MoM increase, while food inflation shot up to 19.56% YoY (vs. 18.30% YoY in November). Earlier in the week, Ardova Plc., via a circular to the NSE, notified the investing public of its intention acquire Enyo Retail and Supply Limited, subject to the outcome of a due diligence exercise and obtaining necessary regulatory approvals.
At this week’s treasury bill PMA, stop rates inched up to 0.50%, 1.00% and 1.50% (from 0.03%, 0.50% and 1.21%) on the 91, 182 and 364-day bills. In the secondary market, yields trended up this week, with average T-bills and bonds climbing to 0.51% and 6.63% (vs. 0.45% and 6.22% respectively).
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