April3, 2025/Cordros Report
EQUITIES
Bearish sentiments persisted in the Nigerian equities market, as sell pressures in FIRSTHOLDCO (-4.6%) and PZ (-10.0%) caused a 2bps decline in the All-Share Index to 105,525.26 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -0.1% and +2.5%, respectively.
The total volume traded declined by 7.9% to 397.12 million units, valued at NGN8.74 billion, and exchanged in 13,667 deals. UNIVINSURE was the most traded stock by volume at 49.75 million units, while GTCO was the most traded stock by value at NGN1.79 billion.
Analysing by sectors, the Consumer Goods (-0.7%), Banking (-0.4%), Industrial Goods (-0.2%), and Oil & Gas (-0.2%) indices declined, while the Insurance (+1.6%) index advanced.
As measured by market breadth, market sentiment was negative (0.6x), as 31 tickers lost relative to 20 gainers. LIVESTOCK (-10.0%) and PZ (-10.0%) led the losers, while AFRIPRUD (+9.8%) and GUINEAINS (+9.5%) recorded the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 0.2% to NGN1,536.30/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate declined by 8bps to 26.9% in the absence of any significant inflows to the system.
The Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 3bps to 19.5%. Across the curve, the average yield declined at the short (-1bp), mid (-1bp) and long (-6bps) segments, driven by demand for the 84DTM (-1bp), 175DTM (-1bp) and 280DTM (-50bps) bills, respectively. Similarly, the average yield contracted by 2bps to 24.2% in the OMO segment.
The FGN bond secondary market was quiet, albeit with a bullish tilt, as the average yield declined by 1bp to 18.5%. Across the benchmark curve, the average yield decreased at the short (-1bp) and mid (-1bp) segments, driven by demand for the JUL-2030 (-5bps) and FEB-2031 (-7bps) bonds, respectively, while it closed flat at the long end.
Kindly see below our Mutual Fund prices and returns as of today.
