…The naira gained 0.4% to N1.450.00 vs the U.S. dollar
TUE OCT 28 2025-theGBJournal| The benchmark NGX All-Share Index fell to a fresh low on Tuesday as latest batch of positive corporate earnings results failed to impress investors.
The All-Share Index dropped another 0.1% to 155,353.2 points, dragged by sell pressures on ZENITHBANK (-3.2%), WAPCO (-1.7%), UBA (-1.5%) and ACCESSCORP.
The Month-to-Date and Year-to-Date returns moderated to +8.9% and +50.9%, respectively.
As measured by market breadth, market sentiment was negative (0.7x), as 35 tickers lost relative to 26 gainers.
Shares of MCNICHOLS and LASACO fell -8.8% and -8.6% respectively as they led the laggards, while SOVRENINS (+9.9%) and ASOSAVINGS (+9.7%) posted the most significant gains of the day.
The total volume of trades rose by 4.5% to 525.45 million units, valued at N25.40 billion, and exchanged in 32,430 deals.
SOVRENINS was the most traded stock by volume at 42.65 million units, while DANGCEM was the most traded stock by value at N4.54 billion.
Sectoral performance was broadly negative as the Banking (-0.6%), Consumer Goods (-0.4%) and Industrial Goods (-0.3%) indices declined, while the Insurance (+1.2%) and Oil & Gas (+0.1%) indices closed higher.
So far, the earnings season is off to a mixed start with about a third of NGX quoted companies reporting.
At the official foreign exchange market, the naira gained 0.4% to N1.450.00 vs the U.S. dollar, sustain the momentum on the back of stellar foreign exchange reserves.
Nigeria’s gross external reserves rose marginally by 0.40% w/w (US$169.70 million) to US$42.87 billion (as of 24th October 2025), supported by stronger inflows and limited outflows.
Meanwhile, at the fixed income market, the T-bills average yield contracted by 1bp to 17.4%.
Across the curve, the average yield contracted at the short (-1bp), mid (-2bps), and long (-1bp) segments, due to demand for the 86DTM (-1bp), 114DTM (-13bps) and 359DTM (-1bp) bills, respectively.
Conversely, the average yield expanded by 32bps to 21.8% in the OMO segment.
Trading activity in the Treasury bond secondary market was bearish, as the average yield expanded by 1bp to 15.8%.
Across the benchmark curve, the average yield expanded at the short (+1bp) end, due to profit-taking activities on the JAN-2026 (+10bps) bond, but was unchanged at the mid and long segments.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
