…T-Bills average yield contracted by 5bps to 21.0%.
MON MAY 05 2025-theGBJournal| The Nigerian markets had a mixed start to the week on Monday, as investors look ahead to next raft of earnings reports
The equities market kicked off on bright note as buying interests in MTNN (+2.4%) and NB (+8.5%) triggered a 0.6% increase in the benchmark index to 106,698.50 points.
The Month-to-Date and Year-to-Date returns advanced to +1.0% and +3.7%, respectively.
The total volume of trades declined by 0.8% to 569.04 million units, valued at N67.06 billion, and exchanged in 18,612 deals.
FIRSTHOLDCO was the most traded stock by volume at 106.04 million units, while GTCO was the most traded stock by value at NGN5.56 billion.
The Consumer Goods (+3.0%), Insurance (+2.7%), Oil & Gas (+2.6%) and Industrial Goods (+0.1%) indices advanced while Banking (-1.6%) index declined.
As measured by market breadth, market sentiment was positive (1.2x), as 34 tickers gained relative to 29 losers. BETAGLAS (+10.0%) and CADBURY (+9.9%) led the gainers, while ETI (-9.6%) and MEYER (-6.7%) recorded the most significant losses of the day.
At the official exchange rate, the naira closed N1,605 against the dollar, the rate at which it finished last week Friday.
In the parallel market, the exchange rate remained unchanged from the previous week at N1, 610.00/US$1.
Meanwhile, at the fixed income market on Monday, the Treasury bills secondary market was bullish, as the average yield contracted by 5bps to 21.0%.
The average yield across the curve, contracted at the mid (-3bps) and long (-7bps) segments, following demand for the 157DTM (-4bps) and 290DTM (-44bps) bills, respectively, while it closed flat at the short end.
Similarly, the average yield contracted by 6bps to 26.9% in the OMO segment.
The FGN bond secondary market stayed steady Monday, albeit with a bullish undertone, as the average yield contracted by 1bp to 18.7%.
Across the benchmark curve, the average yield contracted at the short (-1bp) and mid (-3bps) segments, driven by buying interest in the JUL-2030 (-9bps) and FEB-2031 (-14bps) bonds, respectively, but was unchanged at the long end.
Meanwhile, the overnight lending rate increased by 13bps to 27.0% in the absence of any significant funding pressures on the system.
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