TUE APRIL 28 2026-theGBJournal| Nigerian stocks closed higher on Tuesday, investors reflecting heightened investor participation and large-value transactions.
The NGX All-Share Index (ASI) advanced by 2.30% to close at 228,740.19 points, lifting the year-to-date return to 46.89% (from 43.69%). Market capitalisation similarly rose by 2.30% to settle at N147.28 trillion.
The positive sentiment was underpinned by strong gains in ARADEL (+9.52%), WAPCO (+10.00%), BUAFOODS (+8.65%), and PRESCO (+9.52%), which outweighed sell-offs in UBA (-10.00%), ACCESSCORP (-7.98%), and NASCON (-9.18%).
Market activity improved notably, with traded volume and value increasing by 33.88% and 54.61%, respectively. ACCESSCORP (-7.98%) led the volume chart with 243.41mn units, while NESTLE (-4.61%) dominated the value chart at N15.27bn.
However, market breadth remained negative at 0.93x, reflecting a higher number of decliners relative to advancers.
FTNCOCOA (+10.00%) led the 37 gainers, while UBA (-10.00%) topped the 40 laggards.
The NASD OTC market reversed prior gains as the NSI declined by 0.22% to 4,044.96 points, with market capitalisation also down 0.22% to N2.42tn.
Trading activity strengthened significantly, with volume and value surging by 305.15% and 265.65%, respectively.
SDFCWAMCO gained 1.90% as the only advancer, while SDCSCSPLC declined by 2.36% as the sole loser.
In the FGN bond market, investor sentiment remained largely muted, with average yields edging up just 1bp to 16.08% from 16.07%.
Trading activity turned bearish at the short end, where yields rose 1bp. The mid-segment saw mixed activity, with yields declining 1bp, while the long end remained muted.
The NTB market closed with average yields at 17.49%, down slightly from 17.50%, reflecting buying interest across most tenors. However, pressure persisted at the tail end of the curve, notably on April 2027 maturities, where average yields rose by 6bps.
Sentiment in Nigeria’s Eurobond market weakened sharply due to a bearish US market as VIX rose by 3%, as stalled US-Iran negotiations pushed oil prices higher.
Overall, average yields rose 1.2bps to 6.88% from 6.87%. However, short-dated maturities remained bullish, with yields declining 5bps, while investors priced in duration risk as yields rose by 3bps at the mid to long ends of the curve.
Money market liquidity strengthened further, rising 12.94% to N4.52 trillion from N4.00 trillion.
This drove the Overnight Rate down 5bps to 22.15%, while the NOFR and Open Repo Rate remained unchanged.
The Nigerian Foreign Exchange Market (NAFEM) depreciated by 1.19% to close at N1,380.71/US$1.
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