…ACCESSCORP was the most traded stock by volume and value at 77.86 million units and N1.62 billion, respectively
…Treasury bond secondary market traded on a bearish note, as the average yield expanded by 2bps to 18.6%
THUR APRIL 10 2025-theGBJournal| The Nigerian equities market posted a big bounce Thursday, as renewed investor interest in banking names, most notably ZENITHBANK (+4.0%), GTCO (+2.6%), and FIDELITYBK (+8.9%) drove the All-Share Index higher by 0.6% to 104,788.25 points.
The month-to-date and year-to-date returns settled at -0.8% and +1.8%, respectively.
The total volume of trade increased by 14.6% to 432.56 million units, valued at N9.72 billion, and exchanged in 12,027 deals. ACCESSCORP was the most traded stock by volume and value at 77.86 million units and N1.62 billion, respectively.
Sectoral performance mirrored the overall market sentiment, as the Banking (+2.7%), Insurance (+2.7%), Consumer Goods (+0.6%) and Oil & Gas (+0.1%) indices advanced. The Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was positive (4.4x), as 44 tickers gained relative to 10 losers. CAVERTON (+10.0%) and NEIMETH (+9.9%) led the gainers, while ABCTRANS (-10.0%) and ETERNA (-9.9%) posted the most significant losses of the day.
The official FX rate regained its composure against the U.S dollar, firming by 2.5% to N1,605.00/US$. The gain is also a surprise swing from the 1.9% loss suffered Wednesday, despite the significant intervention by the Central Bank of Nigeria.
The Nigerian equities market posted a big bounce Thursday, as renewed investor interest in banking names, most notably ZENITHBANK (+4.0%), GTCO (+2.6%), and FIDELITYBK (+8.9%) drove the All-Share Index higher by 0.6%
Meanwhile, the overnight lending rate expanded by 33bps to 27.3% in the absence of any significant funding pressure on the system.
Proceedings in the NTB secondary market were bullish, as the average yield contracted by 8bps to 21.1%.
Across the curve, the average yield declined at the short (-1bp), mid (-1bp) and long (-14bps) segments, driven by demand for the 91DTM (-1bp), 182DTM (-1bp) and 315DTM (-162bps) bills, respectively.
Similarly, the average yield contracted by 4bps to 29.3% in the OMO segment.
The Treasury bond secondary market traded on a bearish note, as the average yield expanded by 2bps to 18.6%.
Across the benchmark curve, the average yield expanded at the short (+1bp) and long (+4bps) ends, driven by the sell pressures on the JUL-2030 (+1bp) and JUN-2053 (+31bps) bonds, respectively. The average yield closed flat at the mid segment.
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