EQUITIES
The Nigerian equities market extended yesterday’s gains as demand for NESTLE (+9.8%) drove the benchmark index 0.1% higher. Specifically, the All-Share Index settled at 98,285.33 points. Consequently, the Month-to-Date and Year-to-Date returns improved to +0.1% and +31.4%, respectively.
The total volume traded declined by 45.1% to 222.90 million units, valued at NGN5.15 billion, and exchanged in 7,228 deals. GTCO was the most traded stock by volume and value at 40.64 million units and NGN1.62 billion, respectively.
On sectoral performance, the Consumer Goods (+0.8%) and Banking (+0.2%) indices recorded gains, while the Insurance (-0.4%) index settled lower. Conversely, the Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was mixed (1.0x), as an equal number of tickers (19) gained and lost. BERGER (+10.0%) and NESTLE (+9.8%) recorded the highest gains of the day, while INTENEGINS (-9.7%) and DEAPCAP (-8.3%) topped the losers’ list.
CURRENCY
The naira appreciated by 0.2% to NGN1,465.68/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 99bps to 32.1%, in the absence of any significant outflows from the system.
The NTB secondary market activities were mixed, albeit with a bullish tilt, as the average yield declined by 1bp to 22.1%. Across the curve, the average yield dipped across the short (-1bp) and mid (-1bp) segments due to buying interests in the 51DTM (-2bps) and 170DTM (-1bp) bills, respectively, but closed flat at the long end. Elsewhere, the average yield advanced by 3bps to 20.9% in the OMO segment.
The FGN bond secondary market traded on a calm note as the average yield remained at 18.6%. Across the benchmark curve, the average yield increased slightly at the short (+1bp) end driven by sell pressures on the MAR-2025 (+2bps) bond but closed flat at the mid and long segments.
Cordros
