Bearish sentiments persisted in the equities market as 10 percent losses in the share price of BUACEMENT contributed largely to a 0.4 percent decline in the benchmark index of the Nigerian Exchange Limited in Tuesday trading session.
Consequently, the NGX All Share Index declined 40 basis points to close at 105,375.69 points lower than 105,799.17 points posted on Monday.
Similarly, the market capitalisation closed at N66.08 trillion causing investors to lose N265.55 billion, just as the Month-to-Date and Year-to-Date returns settled at -2.3 percent and +2.4 percent, respectively.
Highlighting of trading activities shows that total volume exchanged decreased by 28.0 percent to 343.75 million units, valued at N7.99 billion, and exchanged in 11,022 deals. ACCESSCORP was the most traded stock by volume at 36.76 million units, while ZENITHBANK was the most traded stock by value at NGN929.98 million.
Worthy of note is the fact that two stocks, CUSTODIAN and TRANSCOHOT traded above their 52 weeks high at N21.50 and N134.00 respectively.
Analysing by sectors, shows mixed performance as the Industrial Goods, Banking, and Oil & Gas indices declined by 3.4 percent, 0.7 percent and 0.1 percent respectively, while the Insurance and Consumer Goods indices advanced by 1.1 percent and 0.2 percent apiece.
As measured by market breadth, market sentiment was positive (1.2x), as 27 tickers gained relative to 22 losers and 73 unchanged. NEIMETH (+10.0%) and NNFM (+10.0%) led the gainers, while BUACEMENT (-10.0%) and ELLAHLAKES (-4.8%) recorded the highest losses of the day.
The overnight lending rate increased by 5bps to 32.9% in the absence of any significant funding pressure on the system.
The Treasury bills secondary market was quiet, albeit with a bullish tilt, as the average yield decreased by 1bp to 19.1%. Across the curve, the average yield declined at the short (-1bp), mid (-1bp), and long (-1bp) segments, driven by demand for the 79DTM (-1bp), 177DTM (-1bp), and 338DTM (-2bps) bills, respectively. Similarly, the average yield declined by 1bp to 22.3% in the OMO segment.
Proceedings in the FGN bond secondary market were bearish as the average yield increased by 19bps to 18.5%. Across the benchmark curve, the average yield increased at the short (+58bps) and mid (+4bps) segments driven by selloffs of the MAR-2025 (+348bps) and JUL-2034 (+17bps) bonds, respectively, while the average yield closed flat at the long end.
