EQUITIES
The Nigerian equities market traded on a negative note as selloffs in UBA (-2.3%), INTBREW (-4.2%) and FIDELITYBANK (-2.1%) drove the All-Share Index lower by 0.1% to 141,546.80 points. Sequentially, the Month-to-Date and Year-to-Date returns settled at +0.9% and +37.5%, respectively.
The total volume of trades declined by 25.3% to 414.98 million units, valued at NGN12.94billion, and exchanged in 25,386 deals. GTCO was the most traded stock by volume and value at 32.89 million units and NGN3.12billion, respectively.
On sectors, the Insurance (-0.6%), Consumer Goods (-0.4%) and Banking (-0.3%) indices declined, while the Oil & Gas (+0.1%) index advanced. The Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was negative (0.8x), as 26 tickers lost relative to 21 gainers. AUSTINLAZ (-6.3%) and DEAPCAP (-5.6%) posted the most significant losses of the day, while CUSTODIAN (+9.9%) and MULTIVERSE (+9.7%) led the gainers.
CURRENCY
The official FX rate appreciated by 1.0% to NGN1,484.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 26.9%, closing at a net long position (NGN2.25trillion).
The NTB secondary market traded with bearish sentiments as the average yield contracted by 30bps to 18.5%. Across the curve, the average yield contracted at the short (-26bps), mid (-21bps) and long (-37bps) segments, driven by the driven for the 65DTM (-42bps),128DTM (-61bps), and 352DTM (-74bps) bills, respectively. Similarly, the average yield contracted by 317bps to 22.3% in the OMO segment.
Elsewhere, the FGN bond secondary market was bullish, as the average yield contracted by 2bps to 16.5%. Across the benchmark curve, the average yield contracted at the short (-6bps) end, driven by the demand for the JAN-2026 (-44bps) bond, but remained unchanged at the mid and long segments.
