Trading on the Nigerian Exchange (NGX) ended on a negative note Tuesday, with the All-Share Index (ASI) shedding 0.10% to close at 109,619.10 points. The market capitalisation followed suit, dropping by ₦70 billion to settle at ₦68.9 trillion, despite more gainers (29) than losers (27) on the day.
Leading the gainers’ chart were RT Briscoe (+10.00%), Eunisell (+9.75%), and Livestock Feeds (+9.61%), while Champion Breweries, Lasaco, and McNichols were among the biggest laggards, each losing nearly 10%.
Sector Watch: Divergence Continues
Sectoral performance was mixed. Insurance (+1.14%) and Industrial Goods (+0.21%) provided modest support, but declines in Consumer Goods (-0.83%), Commodities (-1.34%), Oil & Gas (-0.33%), and Banking (-0.15%) sectors weighed heavily on the index.
Trading Activity: Value Steady, Volumes Down
The value of transactions remained relatively flat at ₦13 billion, while volumes traded fell by over 36% to 487 million shares exchanged in 18,587 deals. Major trades by value included Nigerian Breweries (₦3.13bn), Fidelity Bank, and Zenith Bank, while Japaul Gold, Tantalizer, and Fidelity Bank led in volumes.
Fixed Income Market: Stable Yields, Mild Optimism
The bond market was steady, with average FGN bond yields inching down by 2bps to 19.05%. Eurobonds saw a slight uptick in average yield to 9.77% following sell pressure on the SEP-2051 issuance.
In the treasury bills market, modest bullish sentiment persisted. Average Nigerian Interbank Treasury Bills (NITTY) yields fell slightly to 20.79%, with notable declines on the 6- and 12-month tenors.
FX Market: Naira Gains on CBN Liquidity Support
The naira appreciated by 0.52% at the Nigerian Autonomous Foreign Exchange Market (NAFEM), closing at ₦1,590.46/$, driven by the Central Bank’s FX swap interventions. The parallel market rate held steady at ₦1,615/$, reflecting a narrowing gap between official and street-level rates.
Monetary Snapshot:
MPR: 27.75%
April 2025 Inflation: 23.71%
Q4 2025 GDP Growth: 3.84%
As cautious optimism continues to define investor sentiment, market watchers will monitor macroeconomic signals and the CBN’s FX strategies to gauge momentum in the days ahead.
