…The FGN bond secondary market traded with bearish sentiments as the average yield expanded by 2bps to 20.4%.
TUE JAN 28 2025-theGBJournal| The All Share Index (ASI) shed 44bps on Tuesday to close at 103,958.75 points, amidst Sell-offs in DANGCEM (-3.75%), ZENITHBANK (-0.39%) and FBNH (-5.49%).
As a result, the ASI year-to-date return and the market capitalization moderated to +1.00% and N64.16 trillion respectively.
Investors demand were seen in GTCO (+0.08%) and OANDO (+9.72%) bringing the market to a negative close.
On the activities for the day, the turnover settled higher relative to the previous session, with the value of transactions up by 2.53%. A total of 542.23m valued at N13.64bn were exchanged in 15,561 deals.
For the second time in a row, ACCESSCORP (-2.88%) led the volume chart with 43.99m units transacted while ZENITHBANK (-0.39%) led the value charts with N1.72bn.
Market breadth closed at a 0.87-to-1 ratio with declining issues outnumbering the advancing ones.
OKOMUOIL (+10.00%) topped twenty-five (25) others on the laggards’ table while MRS (-9.95%) led twenty-nine (29) others on the leaders’ log.
Meanwhile, the naira appreciated by 0.7% to NGN1,522.68/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM)
The overnight lending rate contracted by 17bps to 27.0% following inflows from OMO maturities (NGN317.66 billion)
At the fixed income market, trading activities in the T-bills secondary market were quiet with a bearish tilt, as the average yield expanded by 1bp to 24.8%.
Across the curve, the average yield contracted at the short (-2bps) and mid (-2bps) segments following the demand for the 86DTM (-2bps) and 177DTM (-2bps) bills, respectively but expanded at the long (+3bps) end due to the sell-off of the 310DTM (+72bps) bill.
Conversely, the average yield contracted by 52bps to 27.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded with bearish sentiments as the average yield expanded by 2bps to 20.4%.
Across the benchmark curve, the average yield declined at the short (-1bp) end due to buying interest on the JAN-26 (-7bps) bond but expanded at the mid (+7bps) segment following sell pressures on the JUL-2030 (+14bps) bond.
The average yield remained unchanged at the long end.
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