Equities

ASI improves by 25bps

The NGX All Share Index and market capitalisation advanced by 0.25% today, closing at 121,295.33 points and N76.3 trillion, respectively. The modest uptrend in the ASI was primarily driven by gains in FIRSTHOLDCO (+9.80%) and INTBREW (+2.28%), which outweighed declines in ACCESSCORP (-2.00%) and TRANSCORP (-4.55%). Market breadth remained positive at 2.22x, with 51 gainers, led by CADBURY (+10.00%), outpacing 23 laggards, topped by SUNUASSUR (-10.00%).

Trading activity was mixed, as total volume dipped by 10.80%, to 824. million units, while total value traded rose by 31.23%, settling at N14.4 billion. UNIVINSURE led the volume chart, trading 71.9 million units (8.73% of total volume), and this was majorly driven by cross trades totalling 17.0 million units between N0.66 and N0.69. NB topped the value chart with N2.4 billion worth of trades, accounting for 16.58% of the total value traded. 

Sectoral performance

Sector performance was broadly upbeat, with 4 major indices closing in positive territory. The Banking Index advanced by 0.94%, driven primarily by strong gains in FIRSTHOLDCO (+9.80%). The Insurance (+0.75%), Consumer Goods (+0.39%) and Oil and Gas (+0.01%) followed suit, buoyed by gains in NEM (+6.39%), INTBREW (+2.28%) and OANDO (+0.09%), respectively. The Industrial Goods and Commodities Indices remained unchanged.

Fixed Income

The Treasury Bills market commenced the new week on a bullish note, with attention on the short and mid-segment of the curve. Average yields declined by 4bps to settle at 19.88%

Similar buying sentiments were observed in the bond market, with activities seen across the curve, particularly the mid-segment (-10bps) and long-end (-17bps). Notable flows were seen across the 33s, 34s and 53s. Average yields declined by 4 bps to settle at 17.50%. The DMO released its Bond Issuance Calendar for Q3'25, where two papers were offered, the Apr 29 (re-opening) and the Jun 32 (re-opening).

Money market

The OPR and O/N declined by 8bps and 17bps to close at 26.75% and 27.25%, respectively, owing to the settlement of pending CRR debits, which further depleted liquidity at the interbank market.

Currency

The CBN official exchange rate depreciated by 7bps to close at N1,529.50/$, and the parallel market rate also slipped, losing 65bps to settle at N1,540.00/$.

NASD

The NASD OTC Exchange closed on a negative note, as the NSI and market capitalisation slipped by 34bps to 3,387.06 points and N2.0 trillion, respectively. However, market activity surged, with total volume traded increasing significantly by 1,599.71% to settle at 10.8 million units while total value traded rose by 137.90% to reach N43.0 million.

The sole gainer in the session was CBANCO (+5.39%), while the three laggards were AFRILAND (-10.00%), CSCSPLC (-0.80%) and FCWAMCO(-2.28%).

Kindly click here for the summary of activities in the market today

CardinalStone Research 



Lagos Office: 5 Okotie Eboh Street 

                        South-West Ikoyi, Lagos

                        Nigeria

Abuja Office: 4 Misratah Street

                        Wuse II, Abuja, Nigeria

Tel: +234(1) 7100433, 7100434

Email: research@cardinalstone.com 

Website: www.cardinalstone.com  

---------------------------------------------------------------------------------------------------------------------------------

CardinalStone is an investment management firm located in Nigeria and registered with the Securities and Exchange Commission (SEC).