Bullish sentiments returned to the Nigerian capital market on Tuesday enabling investors to recoup part of the losses incurred in recent times.
Expression of buying interest in banking stocks like ZENITHBANK (+3.3%), FIRSTHOLDCO (+3.7%), and UBA (+2.6%) powered the NGX benchmark index to rise by approximately 0.2%.
At the close of the trading session, the NGX All-Share Index stood at 104,376.73 points, up from.104,216.87 points recorded on Monday.
Consequently, investors gained N100.45 billion as the market capitalisation increased to N65.59 trillion, boosting the Year-to-Date returns to settled at1.4%.
Analysis of trading activities shows that the total volume of equities exchanged increased by 3.7% to 460.57 million units, valued at N10.11 billion, and traded in 14,528 deals. ACCESSCORP emerged as the most traded stock by volume with 56.50 million units exchanged, while GTCO was the most traded stock by value at N3.43 billion.
Sectoral performance analysis shows that only the Banking sectors index recorded gains, adding (+1.9%), as the Insurance, Consumer Goods, and Industrial Goods indices declined by (-4.1), (-0.2%) and (-0.1%) respectively indices declined, while the Oil & Gas index remained unchanged.
As measured by market breadth, market sentiment was negative (0.4x), as 41 equities closed on the negative side relative to 16 gainers. UHOMREIT (-10.0%) and NAHCO (-9.9%) led the losers, while NSLTECH (+8.9%) and ABBEYBDS (+8.4%) recorded the most significant gains of the day.
In the money market, overnight lending rate contracted by 1 basis point (bp) to 26.9% in the absence of any significant funding pressure on the system.
The Treasury bills secondary market traded with bearish sentiments, as the average yield expanded by 67bps to 20.6%. Across the curve, the average yield expanded at the short (+9bps), mid (+53bps) and long (+153bps) segments, driven by selloffs of the 58DTM (+40bps), 156DTM (+164bps) and 247DTM (+262bps) bills, respectively. Similarly, the average yield expanded by 501bps to 29.3% in the OMO segment.
Proceedings in the FGN bond secondary market were bearish as the average yield expanded by 3bps to 18.5%. Across the benchmark curve, the average yield expanded at the short (+16bps) end, driven by sell pressures on the JAN-2026 (+81bps) bond, while it contracted at the long (-4bps) end, driven by demand for MAR-2050 (-35bps) bond. The average yield closed flat at the mid segment.
