TUE DEC 17 2024-theGBJournal| The NGX All-Share Index rose Tuesday led by banking stocks including GTCO (+0.96%), STANBIC (+3.70%), STERLINGNG (+0.20%) as well as ARADEL (+5.0%).
The positive momentum drove the benchmark index 0.13% stronger to close at 100,050.94 points, the highest point since 25 July 2024. The market capitalization gained N76.69 billion to close at N60.65 trillion.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 33.39% and total of 478.08bn shares valued at N22.51 billion.
ETRANZACT (+0.00%) led the volume chart with 70.23m units traded while TRANSCOHOT (+0.00%) led the value chart in deals worth N7.42 billion
Market breadth closed negative at a 0.81-to-1 ratio with declining issues outnumbering the advancing ones. CUTIX (-10.00%) topped twenty-five (25) others on the laggard’s table while MRS (+10.00%) led twenty (20) others on the leader’s log.
The naira drops by 0.7% to N1,553.19 against the U.S dollar in the Electronic Foreign Exchange Matching System (EFEMS).
At the money market, the overnight lending rate contracted by 6bps to 32.8% in the absence of any significant inflows into the system.
Activities in the fixed income market saw Treasury bills secondary market bullish, as the average yield contracted by 2bps to 25.6%.
Across the curve, the average yield contracted at the short (-2bps), mid (-2bps), and long (-2bps) segments following buying interests in the 79DTM (-2bps), 170DTM (-2bps), and 338DTM (-2bps) bills, respectively. Conversely, the average yield expanded by 13bps to 27.3% in the OMO segment.
Meanwhile, the FGN bond secondary market traded with bearish sentiments as the average yield expanded by 8bps to 19.3%.
Across the benchmark curve, the average yield expanded at the short (+29bps) and mid (+1bp) segments driven by profit-taking activities on the APR-2029 (+143bps) and JUL-2030(+42bps) bonds, respectively, but closed flat at the long end.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
