…The NTB secondary market traded with bullish sentiments as the average yield contracted by 5bps to 25.1%.
…naira closed flat at N1,672.69/US$
MON DEC 02 2024-theGBJournal| The Nigerian equities market broadly closed higher Monday, as investors recover from the latest inflation data and Central Bank of Nigeria’s (CBN) interest rates decision.
The benchmark Index, NGX All-Share Index recovered 0.23% in the first trading day of the month from prior session losses to close at 97,733.86 points.
Selloffs in GTCO (-0.85%), OANDO (-0.69%), and FBNH (-3.04%) were offset by demands for ZENITHBANK (+0.45%), UBA (+1.22%), and ACCESSCORP (+3.23%), driving the market’s rebound.
The year-to-date (YTD) return increased to 30.71%, while the market capitalization gained N137.60 billion to close at N59.25 trillion.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 32.70%. A total of 451.17m shares valued at N10.15 billion were exchanged in 9,329 deals.
JAPAULGOLD (+1.36%) led the volume chart with 72.03 million units traded while UBA (+1.22%) led the value chart in deals worth N2.23 billion.
Market breadth closed positive at a 1.42-to-1 ratio with advancing issues outnumbering declining ones.
WAPCO (+10.00%) topped thirty-four others on the leader’s log, while ETRANZACT (-10.00%) led twenty-four others on the laggard’s table.
At the fixed income market, trading activity on the FGN bond secondary market was quiet but with a bearish undertone as the average yield expanded by 1bp to 19.1%.
Across the benchmark curve, the average yield expanded at the short (+2bps) end due to sell pressure on the JAN-2026 (+5bps) bond. Meanwhile, the average yield closed flat at the mid and long segments.
The NTB secondary market traded with bullish sentiments as the average yield contracted by 5bps to 25.1%. Across the curve, the average yield declined at the short (-5bps), mid (-5bps) and long (-6bps) segments following demand for the 80DTM (-5bps), 129DTM (-6bps) and 325DTM (-6bps) bills, respectively.
Similarly, the average yield declined by 22bps to 27.0% in the OMO segment.
Meanwhile, the naira closed flat at N1,672.69/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM.
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