EQUITIES
The local bourse closed on a bullish note today driven by renewed interest in MTNN (+4.0%) and FBNH (+6.9%). Consequently, the NGX ASI advanced by 0.4% to 98,225.63 points. As a result, the MTD and YTD returns printed -6.1% and +31.4%, respectively.
The total trading volume surged by 99.2% to 552.21 million units, valued at NGN14.92 billion, and exchanged in 9,350 deals. GTCO was the most traded stock by volume and value at 245.46 million and NGN7.95 billion, respectively.
Across the sectors, the Banking (+1.7%) and Insurance (+0.2%) indices closed higher while the Consumer Goods (-0.8%), Industrial Goods (-0.4%) and Oil & Gas (-0.3%) indices declined.
As measured by market breadth, market sentiment was positive (1.4x), as 26 tickers gained relative to 18 losers. CAP (+10.0%) and UACN (+10.0%) recorded the highest gains of the day, while DANGSUGAR (-10.0%) and CWG (-9.8%) topped the losers’ list.
CURRENCY
The naira appreciated by 2.0% to NGN1,390.96/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 33bps to 31.0%, despite the inflows from OMO maturities (NGN42.00 billion).
Sentiments in the NTB secondary market turned bearish, as the average yield advanced by 3bps to 22.2%. Across the curve, the average yield pared at the short (-1bp) end driven by demand for the 72DTM (-2bps) bill but expanded at the mid (+13bps) and long (+1bp) segments following sell-offs of the 114DTM (+84bps) and 191DTM (+18bps) bills, respectively. Conversely, the average yield contracted by 1bp to 18.8% in the OMO segment.
Proceedings in the FGN bond secondary market was calm, as the average yield was unchanged at 18.9%. Across the benchmark curve, the average yield increased slightly at the short (+1bp) end due to mild pressure on the JAN-2026 (+1bp) bond but closed flat at the mid and long segments.
