WED MARCH 05 2025-theGBJournal| The NGX All-Share Index fell again on Wednesday, shedding 3,777 points to 106,434.02 points or (0.4%) as investors dump shares for safe havens.
Heavyweight index shares such as TRANSCORP, ZENITH BANK PLC and ACCESS HOLDINGS PLC went down -8.2%, -1.78 and -0.41 respectively. Majority stayed unmoved, while the Month-to-Date and Year-to-Date returns settled at -1.3% and +3.4%, respectively.
The total trading volume fell by 5.6% to 373.20 million units, valued at N11.08 billion, and exchanged in 11,198 deals.
FIDELITYBK was the most traded stock by volume at 47.92 million units, while OKOMUOIL was the most traded stock by value at N2.53 billion, respectively.
Sectoral performance was bearish as the Insurance (-3.9%), Consumer Goods (-1.5%), Banking (-0.8%), and Oil & Gas (-0.1%) indices declined. The Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was negative (0.3x), as 41 tickers lost relative to 12 gainers. CAVERTON (-10.0%) and ETERNA (-9.7%) led the losers, while TANTALIZER (+9.6%) and UHOMREIT (+8.8%) recorded the highest gains of the day.
At the fixed income market, the FGN bond secondary market were quiet as the average yield remained unchanged at 18.2%. Across the benchmark curve, the average yield increased at the long (+1bp) end, driven by selloffs of the MAR-2036 (+5bps) bond, while it closed flat at the short and mid segments.
The Treasury bills secondary market was also quiet, albeit with a bullish tilt, as the average yield declined by 1bp to 19.8%.
Across the curve, the average yield declined at the short (-1bp), mid (-1bp), and long (-1bp) segments, driven by demand for the 78DTM (-1bp), 169DTM (-1bp), and 323DTM (-1bp) bills, respectively. Similarly, the average yield declined by 1bp to 22.5% in the OMO segment.
Meanwhile, the Naira continued its depreciation against the US dollar, falling by by 0.1% to NGN1,501.87/US$1.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
