EQUITIES
The domestic stock market traded lower in today’s session, driven by sell pressures in STANBIC (-8.8%) and FIDELITYBK (-9.7%). As a result, the All-Share Index settled 0.2% lower to 99,134.85 points. Consequently, the Month-to-Date and Year-to-Date returns printed -0.2% and +32.6%, respectively.
The total volume of trades increased by 0.5% to 309.81 million units, valued at NGN5.39 billion, and exchanged in 6,765 deals. FIDELITYBK was the most traded stock by volume at 49.20 million units, while GUINNESS was the most traded stock by value at NGN975.58 million.
Sectoral performance was mixed, as the Banking (-1.3%) and Consumer Goods (-0.1%) indices recorded losses, while the Insurance (+1.7%) and Oil & Gas (+0.3%) indices gained. Elsewhere, the Industrial Goods index stayed flat.
As measured by market breadth, market sentiment was negative (0.9x), as 18 tickers lost relative to 17 gainers. MAYBAKER (-10.0%) and FIDELITYBK (-9.7%) recorded the highest losses for the day, while OANDO (+9.8%) and ETERNA (+9.7%) topped the gainers’ list.
CURRENCY
The naira appreciated by 0.5% to NGN1,481.49/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 32bps to 29.9% despite the debits for the net NTB issuance (NGN57.30 billion) at yesterday’s NTB auction.
The T-bills secondary market traded with bullish sentiments, as the average yield contracted by 2bps to 22.0%. Across the curve, the average yield declined at the short (-1bp), mid (-3bps), and long (-2bps) segments, following interests in the 91DTM (-1bp), 182DTM (-13bps), and 350DTM (-2bps) bills, respectively. Similarly, the average yield dipped by 2bps to 22.0% in the OMO segment.
The Treasury bond secondary market traded in a lull, as the average yield closed flat at 18.6%. Across the benchmark curve, the average yield advanced slightly at the short (+1bp) end due to profit-taking activities in the MAR-2025 (+2bps) bond but remained unchanged at the mid and long segments.
