EQUITIES
The local bourse ended today’s session higher underpinned by gains in UBA (+3.5%) and ZENITHBANK (+2.4%). As a result, the All-Share index advanced by 0.2% to 97,477.80 points, with the Month-to-Date and Year-to-Date returns printing -0.2% and +30.4%, respectively.
The total trading volume decreased by 30.7% to 242.93 million units, valued at NGN7.29 billion, and exchanged in 8,185 deals. ACCESSCORP was the most traded stock by volume at 40.00 million units, while ARADEL was the most traded stock by value at NGN1.68 billion.
On sectoral performance, the Banking (+1.4%) and Consumer Goods (+0.4%) indices advanced, while the Insurance (-0.6%) index declined. The Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was positive (1.5x), as 29 tickers gained relative to 19 losers. INTENEGINS (+10.0%) and JOHNHOLT (+10.0%) topped the gainers’ list, while REGALINS (-10.0%) and DAARCOMM (-7.5%) recorded the highest losses of the day.
CURRENCY
The naira appreciated by 2.7% to NGN1,645.40/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 12bps to 32.5% in the absence of any significant inflows into the system.
The Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 2bps to 23.9%. Across the curve, the average yield declined at the short (-1bp), mid (-2bps), and long (-2bps) segments, driven by demand for the 85DTM (-2bps), 176DTM (-2bps), and 344DTM (-2bps) bills, respectively. Similarly, the average yield dipped by 6bps to 26.4% in the OMO segment.
Sentiments remained cautious in the FGN bond secondary market but with a bearish tilt as the average yield inched higher by 1bp to 19.1%. Across the benchmark curve, the average yield expanded at the mid (+4bps) segment, driven by sell pressures on the FEB-2031 (+11bps) bond. Meanwhile, the average yield closed flat at the short and long ends.
