EQUITIES
The domestic bourse opened the week on a bullish note, spurred by gains in FIDELITYBK (+9.9%), FBNH (+2.6%), and FLOURMILL (+9.8%). Consequently, the All-Share Index inched higher by 0.1% to 98,386.60 points, with the Month-to-Date and Year-to-Date returns settling at +1.9% and +31.6%, respectively.
The total volume traded increased by 46.2% to 810.43 million units, valued at NGN8.29 billion, and exchanged in 10,669 deals. MECURE was the most traded stock by volume and value at 400.08 million units and NGN2.78 billion, respectively.
From a sectoral perspective, the Banking (+1.0%) and Consumer Goods (+0.2%) indices advanced, while the Insurance (-0.4%), Oil & Gas (-0.1%), and Industrial Goods (-0.1%) indices declined.
As measured by market breadth, market sentiment was positive (1.6x), as 32 tickers gained relative to 20 losers. MCNICHOLS (+10.0%) and FCMB (+10.0%) led the gainers, while BERGER (-9.8%) and DAARCOMM (-9.3%) recorded the highest losses of the day.
CURRENCY
The naira depreciated by 1.4% to NGN1,562.66/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 917bps to 20.8% in the absence of any significant inflows into the system.
Trading in the Treasury bills secondary market was bullish, as the average yield contracted by 5bps to 20.8%. Across the curve, the average yield declined at the short (-3bps), mid (-4bps), and long (-6bps) segments due to demand for the 73DTM (-3bps), 171DTM (-4bps), and 185DTM (-29bps) bills, respectively. In contrast, the average yield expanded by 19bps to 23.6% in the OMO segment.
Bearish sentiments prevailed in the Treasury bond secondary market, as the average yield expanded by 7bps to 18.5%. Across the benchmark curve, the average yield expanded at the short (+29bps) end following the selloff of the MAR-2025 (-102bps) bond but declined slightly at the mid (-1bp) segment due to demand for the JUN-2033 (-6bps) bond. The average yield closed flat at the long end.
