All-Share Index closes at 254,762.81 points as market capitalisation rises, while trading volume advances to 552.29 million shares; Treasury bill yields also decline.
The Nigerian equities market closed higher on the trading session, supported by buying interest in major banking stocks and selected industrial counters, as gains in Guaranty Trust Holding Company (GTCO), Transpower, Zenith Bank and United Bank for Africa (UBA) lifted the benchmark All-Share Index by 0.2 per cent.
The index advanced to 254,762.81 points, extending the market’s positive performance and pushing its month-to-date and year-to-date returns to 0.2 per cent and 63.4 per cent, respectively.
GTCO led the gains among the major banking stocks, appreciating by 5.1 per cent. Transpower rose by 10 per cent, while Zenith Bank and UBA each gained 2.7 per cent.
The performance reflected sustained demand for selected stocks, particularly in the banking sector, despite losses recorded across some other segments of the market.
Trading activity also improved during the session, with total volume increasing by 5.1 per cent to 552.29 million shares. These shares were exchanged in 32,815 deals, with a combined value of ₦37.45 billion.
Zichis emerged as the most actively traded stock by volume, accounting for 127.48 million shares, while First HoldCo recorded the highest transaction value at ₦12.67 billion.
Banking Stocks Lift Sectoral Performance
Sectoral performance was mixed, although the banking index provided the strongest support to the broader market, advancing by 0.7 per cent.
The insurance index declined by 0.5 per cent, while the consumer goods and oil and gas indices each shed 0.1 per cent. The industrial goods index closed unchanged.
Market breadth remained positive, with 27 stocks recording gains against 23 decliners, representing a positive breadth ratio of 1.2 times.
Transpower topped the gainers’ chart with a 10 per cent appreciation, followed by Caverton, which gained 9.8 per cent.
On the losing side, Eterna and Sovereign Trust Insurance (Sovrenins) recorded the steepest declines, shedding 9.9 per cent each.
The positive market breadth suggests that buying interest extended beyond a handful of large-cap stocks, although the overall market advance remained relatively modest.
Naira Records Marginal Gain at Official Market
In the foreign exchange market, the naira recorded a marginal appreciation against the United States dollar at the official window.
The exchange rate strengthened by three basis points to close at ₦1,347.00 per dollar.
The movement represented a slight improvement in the local currency’s official-market performance during the session.
Treasury Bill Yields Decline as Bond Market Remains Stable
Activities in the money market were largely stable, with the overnight lending rate unchanged at 20.2 per cent.
In the Treasury bills secondary market, trading sentiment was bullish as average yields declined by two basis points to 17.9 per cent, indicating increased demand for selected short-term government securities.
Across the yield curve, average yields contracted by one basis point at the short end and four basis points at the long end, while the mid-section remained unchanged.
Demand was particularly evident in the 93-day and 176-day maturities, with yields on both instruments declining by one basis point.
The Open Market Operations (OMO) bills segment also recorded improved demand, as the average yield fell by two basis points to 18.6 per cent.
However, activity in the Federal Government of Nigeria (FGN) bonds secondary market remained subdued, with the average yield unchanged at 16.2 per cent.
The contrasting movements across the fixed-income segments point to stronger demand for selected Treasury bills and OMO instruments, while investors maintained a relatively cautious position in the FGN bond market.
Overall, the session reflected a broadly positive tone in the equities market, supported by banking stocks and improved trading activity, alongside modest gains in the official foreign exchange market and lower Treasury bill yields.
