EQUITIES
The Nigerian equities market maintained its winning streak in today’s session underpinned by investors’ demand for DANGSUGAR (+9.6%), FBNH (+5.0%), ZENITHBANK (+3.5%) and GTCO (+2.6%). Precisely, the NGX ASI inched higher by 0.4% to close at 98,818.04 points. Accordingly, the MTD and YTD gains advanced to +0.6% and +32.2%, respectively.
The total trading volume declined by 7.3% to 518.95 million units, valued at NGN4.77 billion, and exchanged in 7,781 deals. ABBEYBDS remained the most traded stock by volume at 230.35 million units, while ACCESSCORP was the most traded stock by value at NGN1.39 billion.
Sectoral performance mirrored the overall market sentiment, as the Banking (+2.3%), Insurance (+1.1%), Consumer Goods (+0.9%) and Industrial Goods (+0.1%) indices recorded gains, while the Oil & Gas index closed flat.
As measured by market breadth, market sentiment was positive (2.1x), as 30 tickers gained relative to 14 losers. ABBEYBDS (+9.8%) and NASCON (+9.7%) topped the gainers’ list, while INTENEGINS (-9.7%) and JAIZBANK (-6.5%) recorded the highest losses of the day.
CURRENCY
The naira depreciated by 11.2% to NGN1,329.65/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 8bps to 32.0%, in the absence of any significant inflows into the system.
Trading in the NTB secondary market was bearish, as the average yield expanded by 8bps to 21.8%. Across the curve, the average yield pared at the short (-1bp) end following buying interest in the 8DTM (-2bps) bills but expanded at the mid (+30bps) segment due to sell pressures on the 148DTM (+150bps) bill. Elsewhere, the average yield was unchanged at the long end. Conversely, the average yield dipped by 1bp to 21.5% in the OMO segment.
Activities in the Treasury bond secondary market closed on a bullish note as the average yield declined slightly by 1bp to 18.5%. Across the benchmark curve, the average yield advanced at the short (+1bp) end as participants took profits off the MAR-2025 (+2bps) bond but dipped at the mid (-4bps) segment driven by demand for the FEB-2031 (+10bps) bond. Meanwhile, the average yield closed flat at the long end.
