EQUITIES
Bullish sentiments persisted in the domestic equities market, as gains in UBA (+2.3%), ZENITHBANK (+1.5%), and GUINNESS (+10.0%) drove the All-Share Index higher by 0.2% to 140,657.92 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +0.3% and +36.7%, respectively.
The total volume of trade declined by 50.7% to 378.18 million units, valued at NGN12.41billion, and exchanged in 22,935 deals. JAPAULGOLD was the most traded stock by volume at 42.05 million units, while ZENITHBANK was the most traded stock by value at NGN1.87billion.
Analysing by sectors, the Banking (+0.8%), Consumer Goods (+0.2%), and Oil & Gas (+0.1%) indices gained, while the Insurance (-1.2%) index declined. The Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was positive (3.5x), as 39 tickers gained relative to 11 losers. GUINNESS (+10.0%) and LIVINGTRUST (+10.0%) led the gainers, while NEM (-10.0%) and MANSARD (-4.8%) recorded the highest losses of the day.
CURRENCY
The official FX rate remained unchanged at NGN1,503.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 27.0%, closing at a net long position (NGN1.92 trillion).
The NTB secondary market traded with bullish sentiments as the average yield contracted by 6bps to 18.7%. Across the curve, the average yield contracted at the short (-1bp) and long (-14bps) ends, driven by the demand for 91DTM(-1bp) and 357DTM (-32bps) bills, respectively. Conversely, the average yield contracted by 46bps to 25.0% in the OMO segment.
Elsewhere, the FGN bond secondary market was bullish, as the average yield contracted by 5bps to 16.4%.
Across the benchmark curve, the average yield contracted at the short (-14bps) and mid (-2bps) segments, driven by the demand for the MAR-2027 (-36bps) and FEB-2031 (-9bps) bonds, respectively but remained unchanged at the long end.
