With sell pressures in banking, oil stocks, and the Nigerian Exchange (NGX), the all-share index headed south during the intraday trading session on Wednesday. The local bourse has shed 33 basis points in equity portfolio value at noon amidst the latest round of market correction.
…Insurance sector insights
The market is bleeding profusely again after investors lost N1.33 trillion the previous day as sell-side actors’ activities plunged key performance indicators lower. The buying momentum has eased significantly due to downbeat investor sentiment with the slowdown in corporate earnings release.
Stockbrokers told AljazirahNigeria in a phone chat that the local bourse is more likely to close negative today due to significant intraday loss. At midday, the NGX All Share Index traded in negative territory, Alpha Morgan Capital Limited said in an emailed note to investors on Wednesday, recording a decline of -0.33%.
Stockbrokers said the downturn was primarily driven by sell pressure in some mid- to high-capitalized stocks. The top intraday losers include CONOIL (-9.98%), INTBREW (-9.03%), AIICO (-6.98%), TRANSCORP (-5.72%), and MANSARD (-3.99%).
Other decliners include DANGSUGAR (-3.07%), STANBIC (-2.46%), STERLINGNG (-2.44%), FCMB (-2.31%), GTCO (-1.05%), ACCESSCORP (-0.18%), and FIRSTHOLDCO (-0.15%), among others.
Meanwhile, Pressure on money market rates declined as OMO inflow boosted the liquidity level in the financial system on Wednesday. Banks were noted to ramp up borrowing from the Central Bank of Nigeria ,CBN, standing lending facility window to meet daily funding requirements.
The last data update cited from the CBN platform revealed that the liquidity balance in the financial system was about N95 billion in deficit. According to AIICO Capital Limited, interbank rates dropped sharply following today’s ₦854.46 billion OMO maturity credit, which significantly eased liquidity pressure.
The Nigerian Interbank Borrowing Rate declined across key tenors, as the overnight, 1-month, 3-month, and 6-month rates dropped by 2.96%, 1.25%, 1.28%, and 1.01%, respectively, Cowry Asset Management Limited reported.
Similarly, money market rates reflected a mixed trend, with the Open Repo Rate ,OPR, falling 30 bps to 32.10%, while the overnight lending rate inched up by 30 bps to 32.40%.
The Nigerian Interbank Treasury Bills True Yield curve declined across most maturities, although sell-offs in the secondary market lifted the average yield marginally by 13 bps to 18.12%.
The CBN last updated the official liquidity figures on 15 Aug 2025, analysts at AIICO Capital Limited said in an investor note, adding that rates should hold near current levels as no major funding flows are expected.
