EQUITIES
The domestic bourse commenced the week on a bullish note, as gains in MTNN (+2.7%), WAPCO (+3.2%) and ETI (+6.3%) drove the All-Share Index higher by 0.5% to 135,166.51 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at +12.7% and +31.3%, respectively.
The total volume of trades advanced by 11.5% to 795.59 million units, valued at NGN23.23 billion, and exchanged in 37,626 deals. FIDELITYBK was the most traded stock by volume and value at 138.03 million units and NGN5.38 billion, respectively.
Sectoral performance was broadly positive as the Insurance (+2.5%), Consumer Goods (+1.3%), Industrial Goods (+0.6%), and Oil & Gas (+0.2%) indices closed higher, while the Banking (-0.7%) index declined.
As measured by market breadth, market sentiment was positive (1.8x), as 44 tickers gained relative to 24 losers. ACADEMY (+10.0%) and CHAMPION (+10.0%) led the gainers, while LIVESTOCK (-10.0%) and ELLAHLAKES (-9.1%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.2% to NGN1,535.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 8bps to 27.0%, in the absence of any significant funding pressure on the system.
The NTB secondary market traded on a bullish note, as the average yield contracted by 2bps to 17.7%. Across the curve, the average yield contracted at the mid (-3bps) and long (-3bps) segments, driven by demand for the 153DTM (-3bps) and 363DTM (-3bps) bills, respectively, while it was unchanged at the short end. Conversely, the average yield expanded by 1bp to 24.7% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a calm note with a bullish undertone, as the average yield pared by 1bp to 16.1%. Across the benchmark curve, the average yield contracted at the short (-5bps) end, driven by demand for the MAR-2027 (-28bps) bond, while it closed flat at the mid and long segments.
