…Trading activity surged as volume jumped at the NASD by 99.32% and trades increased by 58.33%, reflecting strong investor participation.
…Treasury bills secondary market was bullish as the average yield contracted by 2bps to 19.9%
WED FEB 26 2025-theGBJournal| The Nigerian equities market was higher Wednesday after a two-day losing streak for the NGX All-Share Index.
The Index gained 2bps in subdued trading to close at 107,798.99 while market capitazation climbed to N67.18 trillion.
Investor participation remained subdued, with trading volume plunging 32.37% to 245.52 million shares, transaction value declining 16.84% to N8.41 billion, and the number of executed deals dropping 26.58% to 10,098.
Despite weak turnover, a market breadth of 2.13 suggests that advancers outnumbered decliners.
ACCESSCORP led trading volume with 36.55 million shares, edging up 0.19%, while ZENITHBANK saw the highest transaction value at N1.29 billion but remained flat.
Meanwhile, trading activity surged as volume jumped at the NASD OTC Market by 99.32% and trades increased by 58.33%, reflecting strong investor participation.
However, market capitalization remained unchanged at N1.85 trillion, indicating that price movements in key securities were largely stable despite the heightened activity.
Despite the sharp rise in volume, total transaction value declined by 28.53%, suggesting a shift towards lower-priced securities or reduced high-value trades. This points to increased market liquidity but a cautious approach from investors towards large-cap stocks.
SDAFRILAND (+5.17%) emerged as the top gainer, while SDFSTTRUSTMB (-9.62%) recorded the steepest loss.
At the currency market, the local currency strengthened by 0.2% to N1,499.08 against the U.S dollar.
At the fixed income market, the Treasury bond secondary market traded with bullish sentiment, as the average yield contracted by 18bps to 18.7%.
Across the benchmark curve, the average yield declined at the short (-49bps) and mid (-13bps) segments following the demand for the FEB-2028 (-117bps) and FEB-2031 (-52bps) bonds, respectively, but closed flat at the long end.
Trading activities in the Treasury bills secondary market was bullish as the average yield contracted by 2bps to 19.9%.
Across the curve, the average yield declined at the short (-5bps), mid (-1bp) and long (-1bp) segments due to demand for the 43DTM (-32bps), 176(-1bp) and 330DTM (-1bp) bills, respectively. Elsewhere, the average yield declined by 4bps to 22.6% in the OMO segment.
The overnight lending rate expanded by 164bps to 32.2% following debits for the FGN bond PMA (N910.38 billion).
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