EQUITIES
Trading in the domestic equities market carried on last week’s bullish performance, as interest in GEREGU (+5.0%) and FBNH (+10.0%) drove the All-Share Index higher by 0.2% to 97,685.64 points. Accordingly, the Month-to-Date and Year-to-Date returns increased to +1.2% and +30.6%, respectively.
The total volume of trades increased by 14.1% to 471.30 million units, valued at NGN9.40 billion, and exchanged in 12,061 deals. JAPAULGOLD was the most traded stock by volume at 72.27 million units, while FBNH was the most traded stock by value at NGN1.46 billion.
Sectoral performance was mixed as the Banking (+1.5%) and Consumer Goods (+0.9%) indices gained, while the Insurance (-1.5%) and Oil & Gas (-0.6%) indices settled lower. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was mixed (1.0x), as 26 tickers gained, relative to 25 losers. FLOURMILL (+10.0%) and FBNH (+10.0%) topped the gainers’ list, while ETERNA (-10.0%) and OANDO (-9.9%) recorded the highest losses of the day.
CURRENCY
The naira depreciated by 6.7% to NGN1,656.49/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 73bps to 31.0% following inflows from FGN bond coupon (NGN86 billion).
The NTB secondary market traded with bearish sentiments, as the average yield expanded by 8bps to 20.4%. Across the curve, the average yield declined at the short (-4bps) end due to demand for the 79DTM (-4bps). Meanwhile, the average yield expanded at the mid (+8bps) and long (+16bps) segments, driven by profit taking activities on the 156DTM (+83bps), and 247DTM (+245bps) bills, respectively. Similarly, the average yield expanded by 2bps to 23.7% in the OMO segment.
Activities in the FGN bond secondary market was quiet as the average yield closed flat at 18.5%. Across the benchmark curve, the average yield expanded at the short (+1bp) end due to the selloff of the JAN-2026 (+5bps) bond but declined at the mid (-1bp) segment following interest in the JUN-2033 (-6bps) bond. The average yield remained unchanged at the long end.
