EQUITIES
The Nigerian equities market extended yesterday’s positive sentiment, as gains in WAPCO (+6.1%), JBERGER (+10.0%), and UBA (+1.3%) drove the All-Share Index higher by 0.1% to 146,055.89 points. Accordingly, the Month-to-Date and Year-to-Date returns settled higher at +4.4% and +41.9%, respectively.
The total volume traded declined by 39.6% to 1.28 billion units, valued at NGN24.25 billion, and exchanged in 31,155 deals. LASACO was the most traded stock by volume at 107.22 million units, while GTCO was the most traded stock by value at NGN2.62 billion.
On sectors, performance was mixed as the Insurance (+9.1%), and Industrial Goods (+0.9%) indices closed higher, while the Consumer Goods (-0.5%), Banking (-0.2%) and Oil & Gas (-0.2%) indices declined.
As measured by market breadth, market sentiment was positive (1.6x), as 47 tickers gained relative to 29 losers. PRESTIGE (+10.0%) and ABCTRANS (+10.0%) led the gainers, while JULI (-10.0%) and UNILEVER (-10.0%) recorded the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 1.0% to NGN1,545.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 240bps at 29.4%, in the absence of any significant funding pressure on the system.
The NTB secondary market traded on a quiet note, albeit with a bearish tilt as the average yield expanded by 2bps to 17.9%. Across the curve, the average yield contracted at the short (-1bp) end, driven by demand for the 86DTM (-1bp) bill, but expanded at the mid (+7bps) segment, driven by the selloff of the 163DTM (+80bps) bill. The average yield remained unchanged at the long end. Conversely, the average yield contracted by 6bps to 24.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note, as the average yield remained unchanged at 16.3%.
Across the benchmark curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments, driven by the demand for the JAN-2026 (-12bps) and JUN-2033 (-8bps) bonds, respectively but expanded at the long (+1bp) end due to profit-taking activities on the JUN-2053 (+8bps) bonds, respectively.
