EQUITIES
The bears dominated activities on the local bourse as sell pressure on SEPLAT (-8.3%) triggered a 0.3% decline in the benchmark index. Thus, the NGX ASI settled at 99,468.90 points. Consequently, the Month-to-Date and Year-to-Date returns printed -0.6% and +33.0%, respectively.
The total volume traded decreased by 68.3% to 296.73 million units, valued at NGN5.45 billion, and exchanged in 7,126 deals. FIDELITYBK was the most traded stock by volume at 46.78 million units, while SEPLAT was the most traded stock by value at NGN1.15 billion.
From a sectoral perspective, the Oil & Gas (-4.0%) and Consumer Goods (-0.3%) indices declined, while the Banking (+0.1%), Insurance (+0.1%) and Industrial Goods (+0.1%) indices advanced.
As measured by market breadth, market sentiment was positive (1.2x), as 21 tickers gained relative to 17 losers. LINKASSURE (+9.8%) and DAARCOMM (+9.6%) recorded the most significant gains of the day, while IKEJAHOTEL (-9.3%) and HONYFLOUR (-8.4%) topped the losers’ list.
CURRENCY
The naira depreciated by 1.42% to NGN1,554.65/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 16bps to 32.6% despite the net NTB Issuance (NGN41.16 billion) at yesterday’s NTB auction.
The NTB secondary market traded with bullish sentiments, as the average yield contracted by 16bps to 23.3%. Across the curve, the average yield declined at the short (-59bps), mid (-1bp) and long (-2bps) segments due to demand for the 63DTM (-346bps), 147DTM (-2bps) and 350DTM (-2bps) bills, respectively. Similarly, the average yield dipped by 2bps to 24.3% in the OMO segment.
Meanwhile, the FGN bond secondary market was bearish, as the average yield expanded by 5bps to 18.9%. Across the benchmark curve, the average yield expanded at the short (+17bps) end, driven by sell-offs on the JAN-2026 (+86bps) bond; but closed flat at the mid and long segments.
Cordros
