Trading across the Nigerian equities market kicked off the week on a negative note, extending last Friday’s losses in what analysts attributed to profit-taking activities by investors.
Further analysis shows that the down trend were basically driven by losses in FIDELITYBNK (-6.19%), UBA (-3.1%), OANDO (-2.56%) and NESTLE (-1.96%) and 18 others, which drove the All-Share Index lower by 3 basis points or 0.03% to 104,529.62 points.
As a result, investors lost N21.19billion, drawing the market capitalisation to N65.69 trillion, while year-to-date returns settled at 1.6%.
Analysis of trading activities shows that the total volume of equities exchanged increased by 12.7% to 428.16 million units, valued at N10.52 billion, and exchanged in 14,583 deals. ACCESSCORP was the most traded stock by volume at 55.99 million units, while ZENITHBANK was the most traded by value at N2.76 billion.
Sectoral performance was mixed as the Banking (-2.0%), Insurance (-0.4%) and Oil & Gas (-0.2%) indices declined while the Consumer Goods (+0.1%) index advanced. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.2x), as 27 tickers gained relative to 23 losers. INTENEGINS (-9.8%) and JAPAULGOLD (-7.5%) posted the most significant losses of the day, while GUINEANS (+10.0%) and UPDC (+9.8%) led the gainers.
NASD OTC down by 0.41%
The NASD Securities Index also closed bearish, down 0.41% at 3,264.29 points from 3,277.57 points recorded on Friday.
The total volume traded was 436,357 units, valued at N10.09 million, in 51 deals.
At the close of trading, the NASD OTC market recorded two (2) gainers and one (1) loser.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 25bps to 27.2% in the absence of any significant funding pressure on the system.
The NTB secondary market traded with bearish sentiments, as the average yield expanded by 7bps to 21.1%. Across the curve, the average yield declined at the short (-2bps) end following the demand for 73DTM (-3bps) but expanded at the mid (+20bps), and long (+25bps) segments due to the selloff of the 164DTM (+39bps), and 269DTM (+132bps) bills, respectively. Conversely, the average yield declined by 10bps to 29.2% in the OMO segment.
Proceedings in the FGN bond secondary market were bearish as the average yield expanded by 10bps to 18.7%. Across the benchmark curve, the average yield expanded at the short (+41bp) end due to profit-taking activities on the JAN-2026 (+200bps) bond but contracted at the long (-2bps) end due to the demand for the JUN-2053 (-16bps) bond. Meanwhile, the average yield remained unchanged at the mid segment.
