Nigeria’s bond market declined amid profit-taking, while Exchange Traded Products (ETPs) recorded gains and rising investor participation.
The fixed income market at the Nigerian Exchange (NGX) fell by 0.11% to N51.45 trillion, as investors booked profits following weeks of sustained rallies. In contrast, the Exchange Traded Products (ETPs) segment saw improved activity, signaling renewed investor appetite for diversified instruments.
Weekly data showed bond transactions dropped to 448,601 units worth N381.85 million, compared to 984,209 units valued at N883.36 million the previous week. The FGSUK2027S3 bond dominated activity, accounting for over 88% of total bond trades. Analysts attribute the decline to cautious sentiment and moderating yields after the CBN’s recent rate cuts.
Meanwhile, ETP trades increased to 202,526 units valued at N24.92 million, up from 147,745 units worth N24.08 million last week. The ETP market capitalization rose 0.78% to N32.19 billion, reflecting steady investor confidence.
Total transaction value across both segments stood at N406.76 million, as investors await November’s Monetary Policy Committee meeting for clarity on interest rate direction.
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