MON APRIL 14 2025-theGBJournal| Nigerian equities market experienced another floppy session on Monday as the Banking (-2.0%), Insurance (-0.4%) and Oil & Gas (-0.2%) indices fell.
The Consumer Goods (+0.1%) index advanced marginally while the Industrial Goods index closed flat.
Profit-taking activities in UBA (-3.1%), FIDELITYBK (-1.2%) and NESTLE (-2.0%) dominated, triggering the All-Share Index dive by 3bps to 104,529.62 points. The month-to-date and year-to-date returns settled at -1.1% and +1.6%, respectively.
The total volume of trade increased by 12.7% to 428.16 million units, valued at NGN10.52 billion, and exchanged in 14,583 deals. ACCESSCORP was the most traded stock by volume at 55.99 million units, while ZENITHBANK was the most traded by value at NGN2.76 billion.
As measured by market breadth, market sentiment was positive (1.2x), as 27 tickers gained relative to 23 losers. INTENEGINS (-9.8%) and JAPAULGOLD (-7.5%) posted the most significant losses of the day, while GUINEAINS (+10.0%) and UPDC (+9.8%) led the gainers.
At FX market, the official FX rate firmed by 0.9% to N1,603.00 against the U.S dollar.
The overnight lending rate expanded by 25bps to 27.2% in the absence of any significant funding pressure on the system.
At the fixed income market, the NTB secondary market traded with bearish sentiments, as the average yield expanded by 7bps to 21.1%.
Across the curve, the average yield declined at the short (-2bps) end following the demand for 73DTM (-3bps) but expanded at the mid (+20bps), and long (+25bps) segments due to the sell off of the 164DTM (+39bps), and 269DTM (+132bps) bills, respectively. Conversely, the average yield declined by 10bps to 29.2% in the OMO segment.
Proceedings in the FGN bond secondary market were bearish as the average yield expanded by 10bps to 18.7%.
Across the benchmark curve, the average yield expanded at the short (+41bp) end due to profit-taking activities on the JAN-2026 (+200bps) bond but contracted at the long (-2bps) end due to the demand for the JUN-2053 (-16bps) bond. Meanwhile, the average yield remained unchanged at the mid segment.
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