…the naira fell by 1.4% to N1,675.62/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MON NOV 25 2024-theGBJournal| The Nigerian equities market kicked off the week with bearish sentiments, as profit-taking activities in GTCO (-3.4%) and ZENITH (-2.7%) drove the All-Share Index lower by 0.2% to 97,626.27 points.
The Month-to-Date and Year-to-Date returns settled at -0.0% and +30.6%, respectively.
The total volume of trades increased by 83.1% to 671.26 million units, valued at N20.64 billion, and exchanged in 10,464 deals.
FBNH was the most traded stock by volume and value at 245.25 million units and N6.23 billion, respectively.
On sectors, the Banking (-1.6%), Oil & Gas (-0.2%), and Insurance (-0.2%) indices settled lower, while the Insurance (+0.7%) index was the sole gainer of the day. The Consumer Goods index remained unchanged.
As measured by market breadth, market sentiment was negative (0.9x), as 30 tickers lost relative to 27 gainers. NSLTECH (-9.8%) and DAARCOMM (-9.7%) posted the most significant losses of the day, while HMCALL (+10.0%) and SUNUASSUR (+9.8%) led the gainers.
At the forex market, the naira fell by 1.4% to N1,675.62/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Similarly, the overnight lending rate contracted by 24bps to 32.6% in the absence of any significant inflows into the system.
Meanwhile, at the fixed income market, the treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 5bps to 24.0%. Across the curve, the average yield declined at the short (-4bps), mid (-5bps), and long (-5bps) segments following buying interests in the 87DTM (-5bps), 178DTM (-5bps) and 283DTM (-6bps), respectively.
The average yield contracted by 5bps to 27.1% in the OMO segment.
Proceedings in the Treasury bond secondary market were quiet, albeit with a bearish undertone, as the average yield expanded by 1bp to 19.1%.
Across the benchmark curve, the average yield expanded at the short (+2bps) end, driven by sell pressures on the JAN-2026 (+6bps) bond, but closed flat at the mid and long segments
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