MON FEB 03 2025-theGBJournal| The NGX All-Share Index inched higher on Monday by 0.1% to 104,630.30 points, as bargain hunting in PRESCO (+10.0%) following the release of their 2024FY unaudited financial statements and gains in MTNN (+1.2%) and OKOMUOIL (+9.9%) caused
As a result, the Year-to-Date return settled higher at +1.7% with market capitalization settling at N64.791 trillion.
The total volume of trades declined by 59.4% to 510.57 million units, valued at N13.25 billion, and exchanged in 14,611 deals.
FBNH was the most traded stock by volume at 83.99 million units, while ZENITHBANK was the most traded stock by value at N2.73 billion.
On sectors, the Consumer Goods (-0.6%), Banking (-0.4%) and Industrial Goods (-0.1%) indices settled lower, while the Insurance (+0.5%) index advanced. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.6x), as 20 tickers lost relative to 34 gainers. UPL (-10.0%) and OMATEK (-9.9%) posted the most significant losses of the day, while BETAGLAS (+10.0%) and PRESCO (+10.0%) led the gainers.
At the currency market, the naira depreciated by 1.4% to N1,495.60/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Meanwhile, the overnight lending rate expanded by 307bps to 32.6% despite inflows from OMO maturities (N24.36 billion).
In the Treasury bills secondary market were bullish, as the average yield contracted by 4bps to 22.5%.
Across the curve, the average yield contracted at the short (-4bps), mid (-4bps) and long (-5bps) segments, driven by the demand for the 17DTM (-5bps), 171DTM (-4bps) and 339DTM (-6bps) bills, respectively.
Similarly, the average yield declined by 12bps to 27.4% in the OMO segment.
The Treasury bond secondary market traded on a quiet note, albeit with a bullish undertone, as the average yield pared by 1bp to 20.2%.
Across the benchmark curve, the average yield declined at the short (-3bps) end due to buying interest in the JAN-2026 (-16bps) bond but remained unchanged at the mid and long segments.
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