…FGN Bonds average yield expands by 1bp to 18.7%
THUR MAY 15 2025-theGBJournal| The benchmark NGX All-Share Index (NGXASI) ticked higher on Thursday, extending its winning streak for a third straight day.
The benchmark index has been on the rise this week alongside major global indices after the U.S and China reached a landmark agreement to end their tariff dispute.
The NGXASI ended Thursday 0.4% higher to 109,467.64 points, while market capitalization posted a 0.4% increase to N68.80 trillion.
Demand was seen in HONYFLOUR (+10.00%), BETAGLAS(+9.98%) and NPFMCRBK(+9.81%), TRANSCOHOT (+6.2%) and NESTLE (+10.0%) shares.
Broad market sentiment was positive (1.5x), as 34 tickers gained relative to 23 losers. HONYFLOUR (+10.0%) and NESTLE (+10.0%) led the gainers, while MULTIVERSE (-9.6%) and WAPIC (-4.7%) recorded the most significant losses of the day.
The total volume of trades increased by 37.4% to 729.88 million units, valued at N13.88 billion, and exchanged in 14,743 deals.
FCMB was the most traded stock by volume at 273.04 million units, while MTNN was the most traded stock by value at NGN3.44 billion.
The Consumer Goods (+1.2%), Banking (+0.2%), and Industrial Goods (+0.2%) indices advanced while the Oil & Gas (-0.2%) index declined. The Insurance index closed flat.
In the NASD OTC market, NSI and market capitalisation gained 0.36% to close at 3,153.9units and 1.85bn respectively.
Trade volume decreased by 82.22% to close at 304,374units, and value edged lower by 91.57% to close at 5.20 million.
Meanwhile, the Naira at the official exchange rate market appreciated by 0.2% to N1,593.53/US$1, from N,596/US$ on Wednesday.
At the fixed income market, the FGN bond secondary market traded on a calm note, albeit with a bearish tilt as the average yield expanded by 1bp to 18.7%.
Across the benchmark curve, the average yield expanded at the short (+3bps) end, driven by sell pressures on the JAN-2026 (+13bps) bond, but was unchanged at the mid and long segments.
The Treasury bills secondary market was quiet, as the average yield remained unchanged at 20.9%. Across the curve, the average yield contracted at the short (-1bp) end, driven by the demand for the 7DTM (-2bps) bill, but remained unchanged at the mid and long segments. Meanwhile, the average yield contracted by 2bps to 26.8% in the OMO segment.
The overnight lending rate declined by 202bps to 27.4% following inflows from FGN bond coupon (N175.60 billion).
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