EQUITIES
Trading in the domestic equities market kicked off the week on a bearish note, following sell pressures on BUACEMENT (-9.9%). Consequently, the All-Share Index declined by 0.7% to close at 97,880.94 points. Accordingly, the Month-to-Date and Year-to-Date returns moderated to +0.1% and +30.9%, respectively.
The total volume of trades increased by 4.4% to 498.27 million units, valued at NGN11.77 billion, and exchanged in 10,645 deals. GTCO was the most traded stock by volume and value at 123.92 million units and NGN5.66 billion, respectively.
Analysing by sectors, the Oil & Gas (+3.3%), Insurance (+2.1%) and Consumer Goods (+1.0%) indices recorded gains, while the Industrial Goods (-4.0%) and the Banking (-0.3%) indices recorded losses.
As measured by market breadth, market sentiment was positive (1.4x), as 27 tickers gained while 20 tickers lost. JBERGER (+10.0%) and NASCON (+10.0%) topped the gainers’ list, while BUACEMENT (-9.9%) and SKYAVN (-5.4%) recorded the highest losses of the day.
CURRENCY
The naira appreciated by 0.2% to NGN1,570.99/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 278bps to 36.8%, in the absence of any significant funding pressure on the system.
The NTB secondary market traded with bullish sentiments, as the average yield dipped by 17bps to 25.6%. Across the curve, the average yield declined at the short (-4bps), mid (-5bps) and long (-30bps) segments, driven by buying interests in the 87DTM (-5bps), 150DTM (-6bps) and 192DTM (-201bps) bills, respectively. Conversely, the average yield increased by 4bps to 26.2% in the OMO segment.
The FGN bond secondary market traded closed on a bullish note, as the average yield contracted by 4bps to 19.6%. Across the benchmark curve, the average yield rose marginally at the short (+1bp) end as players sold off the JAN-2026 (+4bps) bond. Meanwhile, the average yield declined at the mid (-7bps) and long (-5bps) segments, due to demand for the JUN-2033 (-34bps) and JUN-2053 (-42bps) bonds, respectively.
