…The FGN bond secondary market was quiet, albeit with a bullish tilt, as the average yield declined by 1bp to 18.5%.
THUR APRIL 03 2025-theGBJournal| Nigerian equities market closed higher Thursday, following unexpected bullish sentiments.
NGX trade data shows that the benchmark index, the All-Share Index climbed 1bp to close at 105,525.26 points from 105,515.99 points in Wednesday, while the market capitalization lost N10.90bn to closed N66.155 trillion.
Gains were seen in ZENITH BANK(+0.11%), alongside TRANSCOHOT (+7.13%) and FIDELITYBK(+2.36%) shares while OANDO (-2.19%), HONYFLOUR (-3.73%) and INTERBREW (- 1.96%) lost ground.
UNIVINSURE topped the volume chart with 49.75 million units traded, while GTCO for the second time in a row led the value chart in deals worth N1.79 billion. Overall, 21 stocks climbed while 31 were listed as losers.
Trading metrics showed a decline, with Volume and Value decreasing by 9.35% and 27.24% to 397,118,887 shares and N8.74bn respectively. The reduction suggests lower investor participation indicating cautious market sentiment.
The Market Breadth ratio stood at 0.63, indicating a predominance of declining stocks over advancing ones. Furthermore, the number of deals fell by 20.94%, down to 13,667, reinforcing the notion of reduced investor engagement on the day.
Meanwhile, the official FX rate fell 0.2% to N1,536.30 from N1,534 against the U.S dollar.
In the parallel market, the naira strengthened by 1.27%, narrowing the gap between official and parallel market rates to N37 per US dollar while US dollar inflows to the official forex window rose by 8.2% week-on-week to $1.19 billion, with the CBN contributing 39.85% of the total inflow.
At the fixed income market, the Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 3bps to 19.5%.
Across the curve, the average yield declined at the short (-1bp), mid (-1bp) and long (-6bps) segments, driven by demand for the 84DTM (-1bp), 175DTM (-1bp) and 280DTM (-50bps) bills, respectively.
Similarly, the average yield contracted by 2bps to 24.2% in the OMO segment.
The FGN bond secondary market was quiet, albeit with a bullish tilt, as the average yield declined by 1bp to 18.5%.
Across the benchmark curve, the average yield decreased at the short (-1bp) and mid (-1bp) segments, driven by demand for the JUL-2030 (-5bps) and FEB-2031 (-7bps) bonds, respectively, while it closed flat at the long end.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
