The domestic bourse kicked off the week on a positive note as buying interest in ARADEL (+10.0%), CUSTODIAN (+8.6%) and FLOURMILL (+1.6%) drove the All-Share Index higher by 0.1% to 97,374.25 points. Thus, the month-to-date and Year-to-Date returns printed -0.3% and +30.2%, respectively.
The total volume traded declined by 37.8% to 297.83 million units, valued at NGN7.52 billion, and exchanged in 9,902 deals. STERLINGNG was the most traded stock by volume at 36.13 million units, while UBA was the most traded stock by value at NGN1.04 billion.
On sectors, the Insurance (+0.2%) and Oil & Gas (+0.2%) indices gained, while the Banking (-0.8%) and Consumer Goods (-0.1%) indices declined. The Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was negative (0.9x), as 26 tickers lost relative to 23 gainers. UCAP (-9.8%) and SOVRENINS (-7.3%) recorded the most significant losses of the day, while ARADEL (+10.0%) and JOHNHOLT (+10.0%) topped the gainers’ list.
CURRENCY
The naira depreciated by 0.2% to NGN1,681.42/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 143bps to 31.1% in the absence of any significant inflows into the system.
The NTB secondary market traded on a calm note, albeit with a bullish undertone, as the average yield pared by 1bp to 24.0%. Across the curve, the average yield declined at the short (-4bps) and long (-5bps) ends following demand for the 87DTM (-5bps) and 192DTM (-12bps) bills, respectively, but expanded at the mid (+9bps) segment due to profit-taking activities on the 115DTM (+27bps) bill. Meanwhile, the average yield declined by 6bps to 26.3% in the OMO segment.
Proceedings in the FGN bond secondary market were quiet but with a bullish tilt, as the average yield declined by 1bp to 19.1%. Across the benchmark curve, the average yield expanded at the short (+1bp) end due to the sell-off of the JAN-2026 (+5bps) bond but contracted at the mid (-6bps) segment following buying interest in the FEB-2031 (-17bps) bond. The average yield closed flat at the long end.
