EQUITIES
The domestic bourse maintained its winning streak in today’s session underpinned by buying interests in OANDO (+10.0%), FBNH (+6.5%), and ZENITHBANK (+4.7%). Thus, the All-Share Index advanced by 0.1% to close at 98,944.42 points. Consequently, the Month-to-Date and Year-to-Date returns printed +0.4% and +32.3%, respectively.
The total volume of trades declined by 52.0% to 283.74 million units, valued at NGN8.29 billion, and exchanged in 7,966 deals. UBA was the most traded stock by volume and value at 66.03 million units and NGN1.79 billion, respectively.
Sectoral performance was mixed as the Banking (+2.4%), Consumer Goods (+0.3%), and Industrial Goods (+0.1%) indices advanced, while the Insurance (-0.4%) index declined. The Oil & Gas index remained unchanged.
As measured by market breadth, market sentiment was positive (2.0x), as 30 tickers gained relative to 15 losers. OANDO (+10.0%) and UNILEVER (+10.0%) led the gainers, while ARADEL (-10.0%) and NNFM (-9.9%) recorded the most significant losses of the day.
CURRENCY
The naira depreciated by 0.1% to NGN1,654.09/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 183bps to 30.8% following inflows from CRR credits (c. NGN154.00 billion).
The Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 4bps to 24.1%. Across the curve, the average yield declined at the short (-4bps), mid (-5bps), and long (-3bps) segments, driven by demand for the 65DTM (-15bps), 170DTM (-54bps), and 212DTM (-17bps) bills, respectively. Conversely, the average yield expanded by 59bps to 26.4% in the OMO segment.
Elsewhere, the Treasury bond secondary market traded in a lull as the average yield closed flat at 19.1%.
