EQUITIES
The bulls continued to dominate the domestic bourse, as buying interests in FIRSTHOLDCO (+9.8%), and PRESCO (+8.2%) drove the All-Share Index higher by 0.5% to 133,199.99 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +11.0% and +29.4%, respectively.
The total volume traded rose by 20.1% to 818.39 million units, valued at NGN22.67 billion and exchanged in 22,955 deals. JAPAULGOLD was the most traded stock by volume at 83.79 million units, while UBA was the most traded stock by value at NGN3.41 billion, respectively.
Sectoral performance was positive as the Insurance (+2.7%), Oil & Gas (+1.3%), Banking (+1.1%), Consumer Goods (+0.3%), and Industrial Goods (+0.3%) indices advanced.
As measured by market breadth, market sentiment was positive (1.4x), as 45 tickers gained relative to 33 losers. ACADEMY (+10.0%) and FTNCOCOA (+10.0%) led the gainers, while JOHNHOLT (-10.0%) and UNIONDICON (-10.0%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.3% to NGN1,534.90/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 467bps to 27.0%, following inflows from FGN bond coupon payment (NGN348.14 billion).
The NTB secondary market traded on a bullish note, as the average yield contracted by 4bps to 17.7%. Across the curve, the average yield contracted at the short (-1bp), mid (-5bps) and long (-5bps) segments, driven by the demand for the 63DTM(-1bp), 182DTM (-32bps) and 210DTM (-44bps) respectively. Conversely, the average yield expanded by 1bp to 24.7% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note, as the average yield contracted by 9bps to 16.1%. Across the benchmark curve, the average yield contracted at the short (-25bps) and mid (-6bps) segments, driven by the demand for the FEB-2028 (-55bps) and JUN-2033 (-12bps) bonds, respectively, but remained unchanged at the long end.
