EQUITIES
The Nigerian equities market traded with mixed sentiments as the gain in SEPLAT (+10.0%) offset the loss in MTNN (-6.9%). As a result, the All-Share index closed flat at 99,396.23 points, with the Month-to-date and Year-to-Date returns unchanged at +0.1% and +32.9%, respectively.
The total trading volume increased by 91.6% to 529.37 million units, valued at NGN10.49 billion, and exchanged in 7,616 deals. GTCO was the most traded stock by volume and value at 66.05 million units and NGN2.93 billion, respectively.
From a sectoral perspective, the Oil and Gas (+5.7%), Banking (+1.1%), Consumer Goods (+0.2%), and Insurance (+0.1%) indices advanced, while the industrial goods index remained flat.
As measured by market breadth, market sentiment was positive (2.2x), as 33 tickers gained relative to 15 losers. CUTIX (+10.0%) and SEPLAT (+10.0%) topped the gainers’ list, while DAARCOMM (-8.9%) and CILEASING (-8.5%) recorded the highest losses of the day.
CURRENCY
The naira depreciated by 0.2% to NGN1,510.10/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 4bps to 24.2%, following the debits for the net NTB issuance (NGN55.55 billion) at yesterday’s NTB auction.
The Treasury bills secondary market traded with bearish sentiments, as the average yield expanded by 7bps to 22.1%. Across the curve, the average yield pared at the short (-1bp) and mid (-1bp) segments following buying interests in the 91DTM (-1bp) and 182DTM (-1bp) bills, respectively. Conversely, the average yield increased at the long (+16bps) end driven by profit-taking activities on the 315DTM (+85bps) bill. Meanwhile, the average yield declined by 2bps to 23.5% in the OMO segment.
Elsewhere, the Treasury bond secondary market traded quietly, as the average yield was unchanged at 18.5%. Across the benchmark curve, the average yield increased slightly at the short (+1bp) end due to sell pressures on the MAR-2025 (+2bps) bond but closed flat at the mid and long segments.
