EQUITIES
The local bourse traded with mixed sentiments as losses in WAPCO (-5.4%) and ZENITHBANK (-2.6%) offset a gain in MTNN (+2.3%). Thus, the All-Share Index traded flat at 98,223.97 points. As a result, the Month-to-Date return was flat, while the Year-to-Date return remained at +31.4%.
The total volume traded declined by 25.0% to 319.08 million units, valued at NGN9.18 billion, and exchanged in 8,121 deals. UBA was the most traded stock by volume at 79.98 million units while MTNN was the most traded by value at NGN2.56 billion.
On sectors, the Banking (-1.0%), Consumer Goods (-0.3%), Industrial Goods (-0.2%) and Insurance (-0.2%) indices printed losses while the Oil & Gas index closed flat.
As measured by market breadth, market sentiment was negative (0.7x), as 19 tickers lost relative to 13 gainers. PZ (-10.0%) and INTBREW (-9.9%) recorded the highest losses of the day, while OKOMUOIL (+10.0%) and TANTALIZER (+8.3%) topped the gainers’ list.
CURRENCY
The naira depreciated by 0.3% to NGN1,421.06/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 25bps to 29.7%, in the absence of any significant funding pressure on the system.
Trading in the NTB secondary market was mixed, albeit with a bullish bias, as the average yield pared by 1bp to 22.5%. Across the curve, the average yield declined at the short (-2bps), mid (-1bp) and long (-1bp) segments following interests in the 64DTM (-2bps), 169DTM (-1bp) and 323DTM (-2bps) bills, respectively. Similarly, the average contracted by 1bp to 18.7% in the OMO segment.
Elsewhere, proceedings in the FGN bond secondary market were quiet as the average yield closed flat at 18.5%. Across the benchmark curve, the average yield inched higher at the short (+1bp) end due to profit-taking activities on the MAR-2025 (+2bps) bond but closed flat at the mid and long segments.
