EQUITIES
The NGX ASI maintained its winning streak as buying interests in ARADEL (+0.1%), GTCO (+2.1%), and MTNN (+0.5%) drove the All-Share Index higher by 0.2% to 142,979.45 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +0.2% and +38.9%, respectively.
The total volume traded advanced by 402.5% to 6.23 billion units, valued at NGN54.45 billion and exchanged in 32,682 deals. CORNERST was the most traded stock by volume and value at 5.45 billion units and NGN25.06 billion, respectively.
Sectoral performance was broadly positive as the Insurance (+0.4%), Consumer Goods (+0.4%), Banking (+0.2%) and Oil & Gas (+0.1%) indices advanced, while the Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was positive (1.4x), as 34 tickers gained relative to 25 losers. PZ (+10.0%) and ETERNA (+9.9%) led the gainers, while RTBRISCOE (-9.9%) and THOMASWY (-9.8%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.8% to NGN1,468.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 4bps to 24.9% as system liquidity remained ample.
The NTB secondary market traded with bullish sentiments as the average yield contracted by 4bps to 17.9%. Across the curve, the average yield contracted at the short (-1bp), mid (-2bps) and long (-6bps) segments, driven by the demand for the 84DTM (-2bps), 175DTM (-2bps), and 350DTM (-49bps) bills, respectively. Similarly, the average yield contracted by 19bps to 20.6% in the OMO segment.
Elsewhere, the FGN bond secondary market closed on a bullish note, as the average yield contracted by 2bps to 16.2%. Across the benchmark curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-4bps) segments, due to buying interest in the FEB-2031 (-37bps), JUN-2033 (-26bps) and JUN-2038 (-21bps) bonds, respectively.
