…The Treasury bill secondary market traded on a bullish note, as the average yield contracted by 11bps to 19.8%
TUE MARCH 04 2025-theGBJournal| The Nigerian equities market extended its bearish run on Tuesday as selloffs in TRANSCORP (-10.0%), ETI (-9.8%) and DANGSUGAR (-10.0%) drove the All-Share Index lower by 0.5% to 106,904.25 points. Sequentially, the Month-to-Date and Year-to-Date returns settled at -0.9% and +3.9%, respectively.
The total volumes traded increased by 28.4% to 395.47 million units, valued at NGN8.76 billion, and exchanged in 13,967 deals. UCAP was the most traded stock by volume at 40.53 million units, while ZENITHBANK was the most traded stock by value at NGN1.23 billion.
On sectors, the Banking (-1.8%), Consumer Goods (-0.4%), and Oil & Gas (-0.4%) indices declined, while the Insurance (+0.7%) index advanced. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.3x), as 43 tickers lost relative to 15 gainers. ETERNA (-10.0%) and TRANSCORP (-10.0%) posted the most significant losses of the day, while UHOMREIT (+9.9%) and NEM (+8.8%) led the gainers.
At the forex market, the official FX rate depreciated by 0.2% to NGN1,502.06/USD.
The overnight lending rate remained unchanged at 32.8% as system liquidity closed at a net short position (NGN551.38 billion).
The Treasury bill secondary market traded on a bullish note, as the average yield contracted by 11bps to 19.8%.
Across the curve, the average yield contracted at the short (-1bp), mid (-39bps) and long (-1bp) segments, driven by the demand for the 79DTM (-1bp), 114DTM (-229bps) and 324DTM (-1bp) bills, respectively.
Similarly, the average yield declined by 2bps to 22.5% in the OMO segment.
Proceedings in the Treasury bond secondary market were bullish, as the average yield contracted by 24bps to 18.2%.
Across the benchmark curve, the average yield declined at the short (-75bps) end due to buying interests in the MAR-2025 (-453bps) but closed flat at the mid and long segments.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
