Market Summary 15-04-2025 | InfoWARE Finance

Market Summary 15-04-2025
(Source: CardinalStone Research, Date: 15-Apr-2025)

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Equities

Local equities return 0.03%

In the second trading session of the week, the local bourse closed on a positive note to reverse yesterday's losses. Specifically, the NGXASI and market capitalization returned 0.03% to reach 104,560.02 points and N65.70 trillion, respectively. Renewed interest in INTBREW (+4.36%), ACCESSCORP (+3.13%), and UNILEVER (+9.65%) spurred the market's recovery, offsetting losses in names like GTCO (-1.47%), FIRSTHOLDCO (-2.40%), UCAP (-4.28%), and MTNN (-0.16%).

However, market breadth remained subdued to print at 0.79x as there were more losers (29) than gainers (23), today. For the second successive session, ABBEYBDS (+9.94%) emerged as the top-performing ticker, while NNFM (-9.97%) topped the laggards' list.

Elsewhere, total volume traded (-13.87%) and value traded (+3.35%) printed at 368.77 million units and N10.87 billion, respectively. Notably, FIDELITYBK traded the most volumes, leading the volume's chart with 47.43 million units, while MTNN witnessed a cross trade of 8.50 million units at N243.00 to lead the value chart with N2.74 billion.

Sectoral Performance

The Consumer Goods (+0.72%) index sustained its momentum from yesterday, largely on the back of renewed interest in INTBREW (+4.36%) and UNILEVER (+9.65%). Meanwhile, the Insurance (+0.15%) index recovered, following strong demand in MANSARD (+4.44%), CONHALLPLC (+7.27%), and AIICO (+2.56%). However, the Banking (-0.11%) index closed lower as investors sold GTCO (-1.47%) and FIRSTHOLDCO (-2.40%).

The Industrial Goods, Oil & Gas, and Commodity indices, however, closed flat today.

Macro commentary

Nigeria's disinflationary trend paused in March, with headline inflation accelerating to 24.2% YoY from 23.2% YoY in February.

Currency

The CBN was in the market today, selling over $30.00 million at rates between N1,590.00/$ and N1,601.50/$. Accordingly, the Naira appreciated at the CBN NFEM window by 1.66% to close at N1,599.00/$. However, in the parallel market, the Naira depreciated by 31bps to settle at N1,620.00/$.

Fixed Income

In the FGN Bond market, we observed mixed activity across the short-end (+3bps) and mid-segment (-2bps) of the yield curve. Consequently, average yield on FGN Bonds edged higher by 1bp to close at 19.07%.

However, the NTBs market traded bullish, likely supported by the ample liquidity in the system. Bids were strongest at the long-end (-11bps) of the curve, causing average yield on NTBs to fall by 7bps to close at 21.05%.

Money market

The OPR and OVN decreased by 9bps and 17bps to settle at 26.58% and 27.04%, respectively, today as system liquidity improved on the back of inflows from Remita and other state inflows.

NASD OTC Exchange

At the NASD OTC Exchange today, the NSI and market capitalization appreciated by 21bps to settle at 3,271.02 points and N1.92 trillion, respectively. Also, activity metrics improved, with total volume and value traded increasing by 68.72% and 20.47% to reach 736.22 thousand units and N12.16 million, respectively.

FCWAMCO (+5.11%), MASSTCOM (+2.50%), and NEWREST (+9.99%) were the advancers for the day, while CSCSPLC (-0.96%) and GEFLUID (-10.00%) were today's losers.