…The NTB secondary market were bullish, as the average yield contracted by 2bps to 25.6%
THUR DEC 19 2024-theGBJournal|The Nigerian equities market closed higher on Thursday with the All-Share Index advancing 0.8% to 101,248.02 points, the eighth consecutive session of bullish run.
The bullish sentiment is driven by bargain hunting in ARADEL (+10.0%), and the announcement of the Minister of Petroleum Resources’ approval for the sale of the Shell Petroleum Development Company to Renaissance Africa Energy Limited, as well as positive performances from TRANSCOHOT (+9.4%), and GTCO (+1.6%).
The Month-to-Date and Year-to-Date returns equally settled higher at +3.8% and +35.4%, respectively.
The total volume traded advanced by 5.6% to 411.37 million units, valued at NGN26.30 billion, and exchanged in 10,260 deals.
UNIVINSURE was the most traded stock by volume at 38.23 million units, while SEPLAT was the most traded stock by value at NGN7.50 billion.
On sectors, the Insurance (+3.8%), Banking (+0.7%), Consumer Goods (+0.7%), and Oil & Gas (+0.3%) indices gained, while the Industrial Goods (-0.6%) index settled lower.
As measured by market breadth, market sentiment was positive (2.7x), as 46 tickers gained relative to 17 losers. UACN (+10.0%) and HONYFLOUR (+10.0%) led the gainers, while TANTALIZER (-9.8%) and MULTIVERSE (-9.7%) posted the most significant losses of the day.
At the currency market, the naira appreciated by 0.2% to NGN1,551.35/USD in the Nigerian Foreign Exchange Market (NFEM
At the fixed income market, the FGN bond secondary market traded on a bearish note, as the average yield expanded by 6bps to 19.3%.
Across the benchmark curve, the average yield expanded at the short (+23bps) end, driven by sell pressures on the MAR-2025 (+123bps) bond, but closed flat at the mid and long segments.
Activities in the NTB secondary market were bullish, as the average yield contracted by 2bps to 25.6%.
Across the curve, the average yield declined at the short (-2bps), mid (-2bps) and long (-2bps) segments following the demand for the 84DTM (-2bps), 168DTM (-2bps) and 336DTM (-2bps) bills, respectively. In contrast, the average yield expanded by 7bps to 27.3% in the OMO segment.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
