EQUITIES
The Nigerian equities market ended today’s trading session on a bullish note, as buying interests in DANGCEM (+2.4%), WAPCO (+2.3%), and FIRSTHOLDCO (+2.4%) drove the All-Share Index higher by 0.4% to 148,355.04 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +4.0% and +44.1%, respectively.
The total volume traded advanced by 11.1% to 432.4 million units, valued at NGN16.91 billion and exchanged in 23,665 deals. ACCESSCORP was the most traded stock by volume at 40.34 million units, while GTCO was the most traded stock by value at NGN2.58 billion.
Sectoral performance was broadly positive as the Industrial Goods (+1.4%), Consumer Goods (+0.2%), Banking (+0.2%), and Oil & Gas (+0.2%) indices advanced, while the Insurance (-1.4%) index declined.
As measured by market breadth, market sentiment was positive (1.2x), as 29 tickers gained relative to 25 losers. NSLTECH (+7.1%) and STERLING (+6.5%) led the gainers, while SUNUASSUR (-9.7%) and HMCALL (-7.5%) led the laggards.
CURRENCY
The official FX rate depreciated by 0.5% to NGN1,474.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 5bps to 24.8% in the absence of any significant inflows into the system.
The NTB secondary market traded with bullish sentiments as the average yield contracted by 4bps to 17.3%. Across the curve, the average yield contracted at the short (-1bp), mid (-12bps) and long (-1bp) segments, driven by the demand for the 84DTM (-1bp), 161DTM (-45bps), and 357DTM (-16bps) bills, respectively. Similarly, the average yield contracted by 7bps to 20.5% in the OMO segment.
Elsewhere, the FGN bond secondary market was quiet, as the average yield remained unchanged at 15.9%.
