EQUITIES
Sentiments remained negative in the local bourse as sell pressures on TRANSCOHOT (-10.0%) drove the NGX ASI lower by 0.1% to 95,718.05 points. As a result, the MTD and YTD returns settled at -2.1% and +28.0%, respectively.
The total volume traded increased by 11.9% to 393.62 million units, valued at NGN5.85 billion, and exchanged in 8,243 deals. UNIVINSURE was the most traded stock by volume 68.19 million units, while OANDO was the most traded stock by value at NGN1.29 billion.
On sectors, the Banking (-0.8%), Oil & Gas (-0.5%) and Consumer Goods (-0.1%) indices settled lower, while the Industrial Goods index closed flat. The Insurance (+0.4%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was positive (1.1x), as 20 tickers gained relative to 18 losers. ACADEMY (+10.0%) and OANDO (+10.0%) recorded the most significant gains of the day, while TRANSCOHOT (-10.0%) and CHAMS (-9.7%) topped the losers’ list.
CURRENCY
The naira depreciated by 2.7% to NGN1,586.11/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 55bps to 26.1%, following the net NTB repayment (NGN 118.94 billion).
The Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 20bps to 22.8%. Across the curve, the average yield declined at the short (-17bps), mid (-28bps), and long (-16bps) segments due to buying interest in the 91DTM (-112bps), 105DTM (-89bps) and 196DTM (-84bps) bills, respectively. Similarly, the average yield dipped by 45bps to 25.3% in the OMO segment.
The Treasury bonds secondary market closed on a bullish note, as the average yield declined by 1bp to 19.4%. Across the benchmark curve, the average yield dipped at the mid (-6bps) segment driven by demand for JUN-2033 (-29bps) bond but closed flat at the short and long ends.
