…The NTB secondary market traded on a bullish note, as the average yield contracted by 2bps to 19.9%.
…The NASD OTC market closed in the green, as the NSI rose 0.49% to 3,285.0, while market capitalization increased by 0.50% to N1.86 trillion
THUR FEB 27 2025-theGBJournal| The NGX ASI and market capitalization fell by 0.11% to close at 107,675.46 points and N67.10 trillion respectively Thursday, driven by selloffs in ETI (-9.5%) and WAPCO (-3.2%).
The selloffs influenced the moderation of the Month-to-Date and Year-to-Date returns moderated to +3.0% and +4.6%, respectively.
The total volume of trades increased by 72.5% to 423.42 million units, valued at N9.57 billion, and exchanged in 11,112 deals.
FCMB was the most traded stock by volume at 102.27 million units, while ZENITHBANK was the most traded stock by value at N1.60 billion.
On sectors, the Insurance (-0.9%), Banking (-0.8%), Industrial Goods (-0.4%) and Consumer Goods (-0.2%) indices declined, while the Oil & Gas (+0.9%) index advanced.
As measured by market breadth, market sentiment was positive (1.2x), as 27 tickers gained relative to 23 losers. PZ (+10.0%) and OANDO (+10.0%) led the gainers, while FIDSON (-9.6%) and ETI (-9.5%) posted the most significant losses of the day.
On the contrary, The NASD OTC market closed in the green, as the NSI rose 0.49% to 3,285.0, while market capitalization increased by 0.50% to N1.86 trillion, reflecting sustained investor confidence.
Trading activity surged with volume up 71.72% and value soaring 343.63%, though the 60.53% decline in trade count suggests fewer but larger transactions dominating the market.
SDOKITIPUPA surged 7.39% to close at N215, reflecting strong bullish sentiment and increased investor appetite.
Meanwhile, the official rate of the Naira jumped again by 0.1% to N1,498.28/US$1.
At the fixed income market, the NTB secondary market traded on a bullish note, as the average yield contracted by 2bps to 19.9%.
Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-4bps) segments, driven by the demand for the 84DTM (-1bp), 175DTM (-1bp) and 266DTM (-36bps) bills, respectively. Similarly, the average yield declined by 4bps to 22.5% in the OMO segment.
Proceedings in the FGN bond secondary market were bullish, as the average yield contracted by 20bps to 18.5%.
Across the benchmark curve, the average yield declined at the short (-9bps), mid (-62bps) and long (-8bps) segments due to buying interests in the JUL-2030 (-28bps), JUL-2034 (-83bps) and MAR-2035 (-55bps) bonds, respectively.
The overnight lending rate expanded by 54bps to 32.8% in the absence of any significant funding pressure on the system.
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