EQUITIES
Bullish sentiments resurfaced in the Nigerian equities market as renewed interest in UBA (+9.9%), ZENITHBANK (+5.8%) and ACCESSCORP (+4.9%) drove the All-Share index higher by 0.2% to 97,123.61 points. Accordingly, the Month-to-Date and Year-to-Date returns printed -0.5% and +29.9%, respectively.
The total volume traded increased by 200.9% to 3.60 billion units, valued at NGN25.57 billion, and exchanged in 10,679 deals. SOVRENINS was the most traded stock by volume at 2.50 billion units while UBA was the most traded stock by value at NGN6.74 billion.
On sectoral performance, the Banking (+3.2%) and Oil and Gas (+1.6%) indices posted gains while the Consumer goods (-0.1%), Industrial goods (-0.1%) and Insurance (-1.3%) indices declined.
As measured by market breadth, market sentiment was positive (1.3x), as 25 tickers gained relative to 20 losers. CONOIL (+9.9%) and JOHNHOLT (+9.9%) recorded the highest gains of the day, while OANDO (-9.9%) and DAARCOMM (-9.7%) topped the losers list.
CURRENCY
The naira appreciated by 0.3% to NGN1,671.32 /USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 10.67ppts to 30.4%, in the absence of any significant funding pressure on the system.
Sentiments in the NTB secondary market were bullish, as the average yield declined by 1bp to 23.9%. Across the curve, the average yield declined at the short (-1bp), mid (-1bp) and long (-2bps) segments driven by demand for the 79DTM (-1bp), 142DTM (-2bps) and 212DTM (-2bps) bills, respectively. The average yield declined by 2bps to 26.2% in the OMO segment.
Conversely, proceedings in the FGN bond secondary market were bearish as the average yield inched higher by 1bp to 19.1%. Across the benchmark curve, the average yield increased at the short (+2bps) and mid (+3bps) segments following sell pressures on the MAR-2025 (+5bps) and APR-2032 (+13bps) bonds, respectively. Meanwhile, the average yield closed flat at the long end.
