…The NASD market also closed on a bearish note, as the NASD Security Index (NSI) declined by 0.64% to settle at 4,245.97 points
…Elsewhere, the FGN bond secondary market traded on a quiet note as the average yield remained unchanged at 15.6%.
By theG&BJournal
TUE MAR 10 2026-theGBJournal| Nigeria’s equities market closed lower on the day as the benchmark NGX All-Share Index retreated by about 0.6 percent 0.6% to 196,066.11 points, pressured by profit-taking in several large-cap stocks across key sectors.
Consequently, the year-to-date return moderated to 26.00% from 26.72%, while market capitalisation also declined by 0.57% to settle at N125.86 trillion.
The total volume traded decreased by 2.1% to 746.85 million units, valued at N27.85 billion, and exchanged in 65,275 deals.
ACCESSCORP was the most traded stock by volume at 80.26 million units, while ZENITHBANK was the most traded stock by value at N3.29 billion.
Sectoral performance was negative, as the Industrial Goods (-0.7%), Banking (-0.5%), Consumer Goods (-0.3%) and Oil & Gas (-0.3%) indices closed lower, while the Insurance index closed flat.
As measured by market breadth, market sentiment was negative (0.8x), as 41 tickers lost relative to 32 gainers. NASCON (-10.0%) and MBENEFIT (-10.0%) led the losers, while PREMPAINTS (+10.0%) and SUNUASSUR (+10.0%) posted the most significant gains of the day.
The pullback reflects cautious investor sentiment after recent gains, with market participants rebalancing portfolios amid evolving liquidity conditions in the financial system.
The NASD market also closed on a bearish note, as the NASD Security Index (NSI) declined by 0.64% to settle at 4,245.97 points, while market capitalisation also fell by 0.64% to close at N2.54 trillion.
Market activity improved significantly compared to the previous session, with trading volume and value advancing by 1,253.21% and 180.70%, respectively.
SDFCWAMCO (+6.25%) led the gainers’ chart, while SDAFRILAND (-10.80%) recorded the steepest decline in today’s session.
Meanwhile, the naira recorded a modest appreciation in the foreign exchange market, supported by improved dollar supply and easing demand pressures.
At the official market, the naira traded 0.7% higher at N1,397.57 against the US dollar from Monday’s close of N1,407.00/US$1.
The currency’s strengthening came as market participants reacted to shifting yield dynamics in the fixed income space, which have recently influenced cross-market investment flows.
In the debt market, yields on Treasury bills declined following renewed demand from investors seeking to lock in short-term instruments amid expectations of moderating interest rate pressures.
The average yield contracted by 2bps to 17.6%.
Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-3bps) segments, due to the demand for the 86DTM (-1bp),163DTM (-1bp) and 345DTM (-16bps) bills, respectively.
Likewise, the average yield contracted by 1bp to 21.2% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note as the average yield remained unchanged at 15.6%.
Analysts note that the slide in T-bills yields could gradually redirect some liquidity back to equities, although near-term volatility in the stock market is likely to persist as investors remain selective.
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