EQUITIES
Bearish sentiments persisted in the domestic bourse, as losses in UBA (-2.6%), OANDO (-5.6%), ACCESSCORP (-3.0%), and WEMABANK (-8.6%) drove the All-Share Index down 0.3% to 144,187.03 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -6.5% and +40.1%, respectively.
The total volume of trade declined by 60.9% to 349.29 million units, valued at NGN9.30 billion, and exchanged in 18,753.00 deals. FIDELITYBK was the most traded stock by volume at 54.26 million units, while GTCO was the most traded stock by value at NGN2.15 billion.
Sectoral performance was broadly negative as the Insurance (-3.8%), Banking (-1.1%), Oil & Gas (-0.4%), and Consumer Goods (-0.3%) indices declined, while the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.4x), as 37 tickers lost relative to 14 gainers. NEIMETH (-10.0%) and OMATEK (-10.0%) posted the most significant losses of the day, while NCR (+10.0%) and ROYALEX (+7.6%) led the gainers.
CURRENCY
The official FX rate appreciated by 0.3% to NGN1,450.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 9bps to 24.8%.
The NTB secondary market traded on a bullish note, with the average yield contracting by 6bps to 16.9%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-14bps) segments, driven by demand for the 91DTM (-1bp), 182DTM (-3bps) and 245DTM (-86bps) bills, respectively. Similarly, the average yield contracted by 1bp to 21.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a calm note, albeit with a bearish tilt, as the average yield expanded by 1bp to 15.4%. Across the curve, the average yield expanded at the mid (+4bps) segment, due to the sell-off of the JUN-2033 (+15bps) bond, while it closed flat at the short and long ends.
Cordros
