…FGN Bonds average yield remained unchanged at 15.7%
WED JAN 28 2026-theGBJournal| Nigerian stocks ended Wednesday’s session in negative territory, as both the NGX All-Share Index and the NASD OTC Market closed lower.
Profit-taking activities in MTNN (-1.4%), FIRSTHOLDCO (-2.2%), and FIDELITYBK (-3.8%) weighed down the All-Share Index by 0.3% to 165,164.38 points.
As a result, the Month-to-Date and Year-to-Date returns settled at +6.1%.
The total volume of trades advanced by 29.0% to 623.18 million units, valued at N16.54 billion, and exchanged in 42,172 deals.
NEIMETH was the most traded stock by volume at 58.13 million units, while GEREGU was the most traded stock by value at N2.78 billion.
On sectors, performance was broadly negative as the Insurance (-1.3%), Consumer Goods (-0.5%), and Banking (-0.4%) indices declined. The Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative (0.9x), as 32 tickers gained relative to 37 losers. RTBRISCOE (-10.0%) and MAYBAKER (-10.0%) led the laggards, while UHOMREIT (+10.0%) and DEAPCAP (+10.0%) posted the most significant gains of the day.
The NASD OTC Market closed the session on a slightly negative note, as both the NASD Securities Index (NSI) and total market capitalisation declined by 0.06% to settle at 3,632.56 points and N2.17 trillion, respectively.
Market activity was mixed during the session, with traded volume surging by 259.89%, while traded value declined by 8.55%, indicating increased participation at lower average trade sizes.
On the performance board, SDNIPCOPLC (+9.09%) led the three gainers recorded during the session, while SDAFRILAND (-10.55%) emerged as the worst performer among the three decliners.
Meanwhile the Naira steadied on Wednesday, and stays on course for its biggest weekly rise in months.
The official FX rate remained unchanged at N1400.00 against the US dollar, as the benchmark currency rose against a basket of global currencies.
The Central Bank of Nigeria’s (CBN) policy of prioritizing exchange rate stability rather than aggressive appreciation through 2026, underpinned by disciplined policy implementation and effective reserve management, has been largely attributed to recent naira stability.
Fixed Income
The overnight lending rate remained unchanged at 22.8% despite debits from the FGN bond auction (N1.54 trillion).
The NTB secondary market closed on a bullish note, as the average yield contracted by 3bps to 18.4%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-9bps) segments driven by demand for the 85DTM (-1bp), 176DTM (-1bp) and 358DTM (-63bps) bills, respectively.
Conversely, the average yield contracted by 74bps to 21.6% in the OMO segment.
The FGN bond secondary market traded on a quiet note, as the average yield remained unchanged at 15.7%. Across the curve, the average yield contracted at the mid (-2bps) segment, following buying interest in the JUN-2033 (-9bps) bond, but remained unchanged at the short and long end.
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