The domestic bourse extended its bullish momentum as it ended the day’s trading in the green zone. The NGX All-Share Index gained 5 basis points by the close of the day, reaching 104,056.21 points compared to the previous session’s 104,007.36 points.
The market’s positive performance was driven by price appreciation in key stocks such as ACCESSCORP (+1.52%), FBNH (+4.32%), ETI (+4.55%), GUINNESS (+3.37%) and 15 additional stocks.
As a result, the year-to-date return increased to 39.16 percent .
Similarly, the overall market capitalization experienced a 0.05 percent uptick, reaching N58.83 trillion, as investors saw their wealth grow by N27.74 billion.
Market activity for the day was negative as volume and value traded declined by 30.78 percent and 18.76 percent to 226.31 million units and N7.41 billion, respectively.
Stock market analysts at Futureview Securities said they expect the market to sustain its bullish trend this week.
The naira appreciated by 0.4 percent to N1,608.98/USD at the Nigerian Autonomous Foreign Exchange Market.
The overnight lending rate contracted by 192bps to 31.1 percent , following the principal and coupon payments of the maturing FGN MAR 2024 bond (N 771.11 billion).
Activities in the Treasury bills secondary market were bullish, as the average yield contracted by 4bps to 18.7 percent.
Across the curve, the average yield declined at the short (-11bps), mid (-1bp) and long (-1bp) segments following demand for the 84DTM (-62bps), 182DTM (-1bp) and 343DTM (-2bps) bills, respectively.
Elsewhere, the average yield pared by 1bp to 18.8 percent in the OMO segment.
Proceedings in the FGN bond secondary market were quiet, as the average yield closed flat at 18.3 percent .
