…NTB secondary market traded with bullish sentiments, as the average yield declined by 6bps to 22.5%
M0N FEB 10 2025-theGBJournal| Trading in the Nigerian stock market kicked off the week on a negative note, driven by profit-taking activities in ZENITHBANK (-2.3%), UBA (-2.7%) and FIDELITYBK (-4.8%).
Thus, the All-Share Index declined by 4bps to close at 105,891.33 points, with the Month-to-Date and Year-to-Date returns moderating to +1.3% and +2.9%, respectively.
The total trading volume increased by 21.2% to 567.29 million units, valued at N10.41 billion, and exchanged in 17,843 deals.
NSLTECH was the most traded stock by volume at 84.07 million units, while FIDELITYBK was the most traded stock by value at N1.36 billion.
On Sectors, the Banking (-1.0%) index was the sole loser of the day, while the Insurance (+2.0%), Consumer Goods (+0.1%), Oil and gas (+0.1%), and Industrial Goods (+0.1%) indices advanced.
As measured by market breadth, market sentiment was positive (1.8x), as 42 tickers gained relative to 24 losers.
INTENEGINS (-10.0%) and RTBRISCOE (-9.6%) topped the losers’ list, while BETAGLAS (+10.0%) and STANBIC (+10.0%) recorded the most significant gains of the day.
Meanwhile, the naira appreciated by 4bps to NGN1,500.95/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate expanded by 4bps to 32.8% in the absence of any significant funding pressure on the system.
At the fixed income market, the NTB secondary market traded with bullish sentiments, as the average yield declined by 6bps to 22.5%.
Across the curve, the average yield declined at the short (-3bps), mid (-4bps), and long (-9bps) segments following the demand for the 87DTM (-4bps), 178DTM (-4bps), and 332DTM (-34bps) bills, respectively. Similarly, the average yield declined by 26bps to 27.0% in the OMO segment.
Proceedings in the FGN bond secondary market was bullish as the average yield declined by 5bps to 20.1%.
Across the benchmark curve, the average yield contracted at the short (-1bp) and mid (-18bps) segments due to buying interest on the JAN-2026 (-9bps) and FEB-2031 (-55bps) bonds, respectively.
Meanwhile, the average yield remained unchanged at the long end.
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