EQUITIES
The Nigerian equities market traded with mixed sentiments in today’s session as buying interest in WAPCO (+9.2%) and ZENITHBANK (+0.9%) offset the losses in MTNN (-1.2%) and OANDO (-3.5%). As such, the NGX ASI increased marginally by 1bp to 97,639.88 points. Accordingly, the Month-to-Date and Year-to-Date returns remained unchanged at -0.0% and +30.6%, respectively.
The total trading volume decreased by 17.8% to 552.11 million units, valued at NGN8.03 billion, and exchanged in 9,305 deals. HMCALL was the most traded stock by volume and value at 177.11 million units and NGN1.09 billion, respectively.
Analyzing by sectors, the Insurance (+0.9%), Industrial Goods (+0.8%), Oil & Gas (+0.4%), and Consumer Goods (+0.1%) indices advanced, while the Banking (-0.2%) index declined.
As measured by market breadth, market sentiment was negative (0.9x), as 25 tickers lost relative to 23 gainers. MULTIVERSE (-9.9%) and TANTALIZER (-9.3%) led the losers, while HMCALL (+10.0%) and SUNUASSUR (+9.8%) recorded the highest gains of the day.
CURRENCY
The naira appreciated by 1.0% to NGN1,659.44/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 15bps 32.7% in the absence of any significant funding pressure on the system.
Trading in the Treasury bills secondary market was bearish, as the average yield expanded by 5bps to 24.0%. Across the curve, the average yield declined at the short (-1bp) and long (-2bps) ends, driven by demand for the 86DTM (-2bps) and 331DTM (-2bps) bills, respectively, while the average yield expanded at the short (+23bps) end following selloffs of the 100DTM (+170bps) bond. Elsewhere, the average yield expanded by 13bps to 27.2% in the OMO segment.
The FGN bond secondary market traded cautiously as investors awaited the outcome of the MPC meeting. Accordingly, the average yield held steady at 19.1%. Across the benchmark curve, the average yield inched higher at the short (+1bp) end driven by sell pressures on the JAN-2026 (+2bps) bond, while it closed flat at the mid and long segments.
