…the Treasury bills secondary market traded on a calm note, as the average yield remained unchanged at 25.6%.
…Treasury bond secondary market were quiet, as the average yield remained unchanged at 19.3%
WED DEC 18 2024-theGBJournal| The NGX All-Share Index jumped on Wednesday, sustaining the positive sentiments seen within traders since the start of the week.
The NGX All-Share was higher by 43 points, settling eventually at 100,477.46 points.
The year-to-date (YTD) return rose to 34.38%, while market capitalization gained N258.56 billion to close at N60.91 trillion.
Big gains were seen in MRS (+10.0%), LEARNAFRICA (+10.0%), ARADEL (+5.4%), OANDO (+2.9%), and ZENITHBANK (+1.6%) shares.
The total volume of trades declined by 18.5% to 389.70 million units, valued at NGN9.20 billion, and exchanged in 9,573 deals. STERLINGNG was the most traded stock by volume at 43.56 million units, while ARADEL was the most traded stock by value at NGN1.54 billion.
Sectoral performance was broadly positive, as the Insurance (+3.2%), Banking (+0.7%), Oil & Gas (+0.3%), and Consumer Goods (+0.1%) indices settled higher, while the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (2.5x), as 42 tickers gained relative to 17 losers.
MRS (+10.0%) and LEARNAFRICA (+10.0%) led the gainers, while AFRIPRUD (-10.0%) and JOHNHOLT (-10.0%) posted the most significant losses of the day.
Meanwhile, the naira depreciated by 2bps to N1,553.47/USD in the Nigerian Foreign Exchange Market (NFEM).
At the money market, the overnight lending rate contracted by 8bps to 32.7% despite debits from the FGN bond PMA (N263.21 billion).
At the Fixed Income market, the Treasury bills secondary market traded on a calm note, as the average yield remained unchanged at 25.6%.
Across the curve, the average yield declined at the short (-2bps) and long (-2bps) ends following buying interests in the 85DTM (-2bps) and 337DTM (-2bps) bills, respectively, but expanded at the mid (+7bps) segment driven by the selloff of the 113DTM (+115bps) bill.
Meanwhile, the average yield contracted by 5bps to 27.3% in the OMO segment.
Proceedings in the Treasury bond secondary market were quiet, as the average yield remained unchanged at 19.3%.
Across the benchmark curve, the average yield pared at the short (+1bp) end, driven by sell pressures on the JAN-2026 (+2bp) bond, but contracted at the mid (-2bps) segment due to the demand of the FEB-2031 (-5bps) bond. The average yield remained unchanged at the long end.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
