EQUITIES
The local bourse kicked off the week on a positive note following renewed buying interest in GTCO (+9.6%) and ZENITHBANK (+6.8%). As a result, the All-Share Index notched a 0.1% gain to close at 99,665.05 points. Consequently, the MTD and YTD returns settled at -4.7% and +33.3%. respectively.
The total volume traded increased by 18.9% to 306.62 million units, valued at NGN5.30 billion, and exchanged in 8,298 deals. GTCO was the most traded stock by volume and value at 50.16 million and NGN1.77 billion, respectively.
Across the sectors, the Banking (+1.3%) and Insurance (+0.5%) indices advanced while the Consumer Goods, Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative (0.8x), as 18 tickers lost relative to 15 gainers. PRESTIGE (-9.8%) and OMATEK (-9.5%) topped the losers’ list, while JAPAULGOLD (+9.6%) and GTCO (+9.6%) recorded the highest gains of the day.
CURRENCY
The naira depreciated by 5.2% to NGN1,234.49/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 71bps to 30.3%, in the absence of any significant funding pressure on the system.
Sentiments in the T-bills secondary market was bullish, as the average yield declined by 3bps to 25.2%. Across the curve, the average yield contracted at the short (-5bps), mid (-5bps) and long (-1bp) segments as investors demanded the 31DTM (-6bps), 157DTM (-5bps) and 325DTM (-5bps) bills, respectively. Similarly, the average yield dipped by 3bps to 18.4% in the OMO segment.
Conversely, trading in the Treasury bond secondary market was bearish, as the average yield expanded marginally by 1bp to 19.0%. Across the benchmark curve, the average yield advanced at the short (+2bps) end due to sell-offs on the MAR-2025 (+4bps) bond but was flat at the mid and long segments.
Cordros
