EQUITIES
The local bourse closed lower in today’s trading session as losses in GTCO (-2.6%) and ACCESSCORP (-2.9%) offset the gain in SEPLAT (+1.3%). As a result, the All-Share Index declined by 0.2% to close at 97,977.79 points. Consequently, the Month-to-Date and Year-to-Date returns printed -0.3% and +31.0%, respectively.
The total volume of trades increased by 16.5% to 316.45 million units, valued at NGN7.70 billion, and exchanged in 7,852 deals. UBA was the most traded stock by volume at 50.32 million units, while JBERGER was the most traded stock by value at NGN1.46 billion.
From a sectoral perspective, the Insurance (-1.9%), Banking (-1.4%), and Consumer Goods (-0.1%) indices posted losses, while the Oil & Gas (+0.7%) index inched higher. Meanwhile, the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.5x), as 28 tickers lost relative to 15 gainers. SKYAVN (-9.8%) and NEM (-9.5%) recorded the highest losses of the day, while CILEASING (+9.9%) and CAVERTON (+7.7%) topped the gainers’ list.
CURRENCY
The naira depreciated by 1.6% to NGN1,485.66/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 169bps to 32.3%, following the debits for the net NTB issuance (NGN130.00 billion).
Sentiments in the NTB secondary market were bullish, as the average yield contracted by 12bps to 22.0%. Across the curve, the average yield dipped at the short (-43bps), mid (-1bp) and long (-2bps) segments due to buying interest in the 91DTM (-254bps), 182DTM (-1bp) and 336DTM (-2bps) bills, respectively. Similarly, the average yield declined by 5bps to 20.9% in the OMO segment.
The FGN bond secondary market traded quietly, as the average yield was unchanged at 18.6%. Across the benchmark curve, the average yield expanded at the short (+1bp) end as market participants sold off the MAR-2025 (+2bps) bond but remained unchanged at the mid and long segments.
