THUR APRIL 23 2026-theGBJournal| The domestic equities market sustained its bullish run, buoyed by strong buying interest in bellwether stocks such as BUAFOODS (+7.9%), DANGCEM (+2.4%), and ZENITHBANK (+3.5%).
This pushed the All-Share Index higher by 1.5% to close at 222,837.68 points, reinforcing positive investor sentiment. Consequently, Month-to-Date and Year-to-Date returns improved to +10.7% and +43.2%, respectively, underscoring the market’s strong upward trajectory.
Despite the price rally, trading activity softened slightly, with total volume declining by 2.3% to 667.94 million units across 53,062 deals, valued at NGN38.12 billion.
ACCESSCORP led the volume chart with 39.51 million units traded, while MTNN dominated in value terms at NGN5.31 billion.
Sectoral performance was mixed. Gains in the Consumer Goods (+4.7%), Banking (+1.5%), and Industrial Goods (+1.0%) sectors provided the backbone for the market’s advance, while mild profit-taking weighed on the Insurance (-0.9%) and Oil & Gas (-0.1%) indices.
Market breadth reflected a balanced tone, with 31 gainers against 32 losers. UNILEVER and UACN topped the gainers’ list with 10.0% appreciation each, while MCNICHOLS and MULTIVERSE led the laggards, shedding 9.9% apiece.
In the currency market, the naira weakened, with the official exchange rate depreciating by 1.1% to NGN1,355.00/USD, indicating lingering pressure on the FX market.
Meanwhile, the fixed income space traded relatively quietly but with a bullish bias. In the NTB secondary market, average yields dipped marginally by 1 basis point to 17.4%, driven by demand at the mid and long ends of the curve, particularly for the 182-day and 259-day bills.
However, the short end remained largely unchanged. In contrast, yields in the OMO segment rose sharply by 14 basis points to 21.2%.
The FGN bond market also recorded bullish activity ahead of the upcoming DMO auction, with average yields declining by 4 basis points to 15.6%. The rally was concentrated at the long end of the curve, notably the JAN 2042 bond, which saw significant buying interest. Yields at the short and mid segments were largely stable.
Looking ahead, the Debt Management Office (DMO) is set to offer a total of N300 billion across three instruments: a 5-year re-opening (AUG 2030), a 7-year re-opening (JUN 2032), and a 10-year re-opening bond.
The auction is scheduled for April 27, 2026, with settlement on April 29, 2026. Each unit will be sold at N1,000, with a minimum subscription of N50,001,000.
In the money market, liquidity conditions remained stable, as reflected in the overnight lending rate, which eased by 4 basis points to 22.2% amid the absence of funding pressures in the system.
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