EQUITIES
The bears resurfaced in the domestic equities market as profit-taking activities in ARADEL (10.0%), NB (-5.3%) and FIDELITYBK (-1.6%) triggered a 0.4% decrease in the All-Share Index to 97,296.57 points. As a result, the Month-to-Date and Year-to-Date returns printed -0.4% and +30.1%, respectively.
The total volume of trades increased by 45.8% to 805.15 million units, valued at NGN9.68 billion, and exchanged in 9,222 deals. HMCALL was the most traded stock by volume and value at 373.72 million units and NGN2.16 billion, respectively.
Sectoral performance was mixed, as the Consumer Goods (-0.3%) index declined while the Insurance (+1.2%), Oil & Gas (+1.0%) and Banking (+0.1%) indices advanced. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was mixed (1.0x), as 23 tickers gained relative to 24 losers. JOHNHOLT (-10.0%) and ARADEL (-10.0%) recorded the most significant losses of the day, while SUNUASSUR (+10.0%) and GUINEAINS (+8.2%) led the gainers.
CURRENCY
The naira depreciated by 0.1% to NGN1,660.83/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 21bps to 32.5% in the absence of any significant inflows into the system.
The Nigerian treasury bills secondary market traded with bearish sentiments, as the average yield expanded by 108bps to 25.1%. Across the curve, the average yield expanded at the short (+149bps) and long (+152bps) ends, driven by profit-taking activities on the 8DTM (+223bps) and 288DTM (+313bps) bills, respectively, but contracted at the mid (-2bps) segment due to the demand for the 176DTM (-2bps) bill. Elsewhere, the average yield dipped by 2bps to 27.2% in the OMO segment.
Similarly, trading in the treasury bond secondary market closed on a bearish note, as the average yield increased by 2bps to 19.1%. Across the benchmark curve, the average yield expanded at the short (+1bp) and mid (+8bps) segments following sell pressures on the JAN-2026 (+2bps) and JUN-2033 (+52bps) bonds, respectively, but closed flat at the long end.
