The Nigerian equities market sustained the bullish run recorded in the pervious week. The market closed up on three (3) of the five (5) trading days pushing the All-Share Index up by 1.11%WoW to 39,157.29pts. Consequently, Year-to-Date losses moderated to -2.77% (from -3.84% at the end of the previous week). All sectoral indices closed positive with the exception of NSEINS (-4.10%). Best Performer for the week was CUTIX (+23.56%), while the biggest loser for the second consecutive week was CWG (-26.14%).
On the corporate scene, WAPIC released its 2020FY Audited financials, recording an increase of 8.79% YoY and 465.57% YoY in Gross Premium Income and Profit after Tax, respectively.
An NTB primary auction held during the week which saw stop rates on the 91 and 182 days unchanged at 2.00% and 3.50% respectively. Rates on the 364 days however shed 10bps to settle at 9.64%. Bearish sentiments dominated the secondary market for T-Bills and Bonds, with average T-Bills and bonds yields rose to 6.31% and 12.18% (from 6.30% and 12.13% in the previous week).
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