MON MAY 26 2025-theGBJournal| Nigerian equities market climbed on Monday and the naira rallied against the U.S dollar reversing losses from last week.
The NGX All-Share Index rose 0.8% to 109,884.92 points, driven by gains in ARADEL (+10.0%), BUAFOODS (+5.3%), and ZENITHBANK (+1.8 %).
The Month-to-Date and Year-to-Date returns settled at +3.9% and +6.8%, respectively.
The total volume traded declined by 35.0% to 414.51 million units, valued at NGN11.09 billion, and exchanged in 19,775 deals.
FIDELITYBK was the most traded stock by volume at 46.77 million units, while GTCO was the most traded stock by value at N1.74 billion.
Sectoral performance was mixed as the Oil & Gas (+3.0%) and Consumer Goods (+2.2%) indices advanced while the Insurance (-1.1%) index declined. The Banking and Industrial Goods indices closed flat.
As measured by market breadth, market sentiment was positive (1.1x), as 33 tickers gained relative to 31 losers. ARADEL (+10.0%) and UPL (+9.9%) led the gainers, while TRIPPLEG (-10.0%) and MRS (-10.0%) recorded the most significant losses of the day.
Meanwhile, the official FX rate firmed further by 0.3% to N1,581/USD from N1,585 at close of official trade on Friday moderating the year-to-date depreciation.
At the fixed income market, treasury bills average yield contracted by 6bps to 20.6%.
Across the curve, the average yield contracted at the short (-4bps), mid (-3bps) and long (-8bps) segments, driven by demand for 87DTM (-13bps), 178DTM (-4bps) and 346DTM (-24bps) bills, respectively. Similarly, the average yield contracted by 24bps to 26.2% in the OMO segment.
Activities in the FGN bond secondary market were calm as the average yield remained unchanged at 18.7%.
The overnight lending rate contracted by 14bps to 26.8% in the absence of any significant inflows into the system.
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