Trading activities at NGX kicked off on a positive note on Tuesday after the Easter holiday as investors expression in buying interest in shares of NB (+9.9%) and ZENITHBANK (+2.3%) drove the market benchmark index higher by 49 basis points or 0.49% than its previous stand.
At the close of the trading session, the NGX All-Share Index rose to 104,739.61 points as against 104,233.81 points posted last Thursday.
Consequently, investors gained N317.84 billion as the market capitalisation increased to N65.82 trillion, resulting in the year-to-date returns analysis settling at +1.8%.
Interestingly, despite the positive trend, the total trades’ volume for the day decreased by 6.1% to 353.28 million units, indicative of the fact that the stocks that moved the market were high value stocks as the total valued stood at N7.20 billion, while transaction unit was 13,734 deals.
ACCESSCORP was the most traded stock by volume at 38.61 million units, while ZENITHBANK was the most traded by value at NGN1.07 billion.
Analysing by sectors, the Consumer Goods (+2.5%), Insurance (+2.2%), Banking (+0.7%) and Industrial Goods (+0.1%) indices advanced while the Oil & Gas (-0.1%) index declined.
As measured by market breadth, market sentiment was positive (1.9x), as 38 tickers gained relative to 20 losers. INTBREW (+10.0%) and NB (+9.9%) led the gainers, while INTENEGINS (-9.5%) and NSLTECH (-8.9%) recorded the highest losses of the day.
NASD OTC
But on the contrary, trading in unlisted equities under the NASD OTC market suffered a downturn as the NASD Securities Index closed bearish, down by 0.35% at 3,274.78 points from 3,286.38 points recorded on Thursday.
The total volume traded was 174,634 units, valued at N2.86m, in 16 deals. At the close of trading, the NASD OTC recorded one (1) gainer and two (2) losers.
MONEY MARKET & FIXED INCOME
Similarly, trading at the fixed income market ended bearish as the overnight lending rate contracted by 509bps to 27.0% following inflows of N6.72 billion from NTB repayments.
The Treasury bills secondary market traded with bearish sentiments, as the average yield expanded by 14bps to 21.0%.
Across the curve, the average yield declined at the short (-20bps) end, driven by demand for the 79DTM (-91bps) bill, while it expanded at the mid (+16bps) and long (+20bps) segments following selloffs of the 135DTM (+79bps) and 198DTM (+215bps) bills, respectively. Conversely, the average yield declined by 11bps to 28.2% in the OMO segment.
Proceedings in the FGN bond secondary market were quiet, albeit with a bullish undertone, as the average yield declined by 1bp to 18.7%. Across the benchmark curve, the average yield contracted at the short (-2bps) and mid (-2bps) segments, driven by interests in JUL-2030 (-9bps) and FEB-2031 (-14bps) bonds, respectively. However, the average yield remained unchanged at the long end.