EQUITIES
Bullish sentiments resurfaced in the local bourse today as gains in ZENITHBANK (+0.8%) and NEM (+9.0%) drove the All-Share Index higher by 0.1% to 166,256.82 points. As a result, the Month-to-Date and Year-to-Date returns settled higher at +6.8%.
The total volume of trades advanced by 26.3% to 795.46 million units, valued at NGN19.98 billion, and exchanged in 45,410 deals. TANTALIZER was the most traded stock by volume at 86.96 million units, while GEREGU was the most traded stock by value at NGN3.79 billion.
On sectors, performance was mixed as the Insurance (+2.8%) and Oil & Gas (+2.4%) indices advanced while the Banking (-0.7%) index declined. The Consumer Goods and Industrial Goods indices closed flat.
As measured by market breadth, market sentiment was positive (1.5x), as 38 tickers gained relative to 25 losers. NPFMCRFBK (+10.0%) and REDSTAREX (+10.0%) led the gainers, while ALEX (-10.0%) and JAIZBANK (-9.9%) posted the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 0.2% to NGN1,419.28/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 22.7% despite inflows from OMO maturities (NGN1.31 trillion).
The NTB secondary market closed on a bearish note, as the average yield expanded by 4bps to 18.1%. Across the curve, the average yield expanded at the short (+8bps) and mid (+7bps) segments driven by the selloffs of the 79DTM (+62bps) and 121DTM (+54bps) bills, respectively but remained unchanged at the long end. Conversely, the average yield contracted by 2bps to 22.4% in the OMO segment.
The FGN bond secondary market traded on a quiet note as the average yield remained unchanged at 16.7%.
