EQUITIES
The bulls resurfaced in the domestic stock market as gains in SEPLAT (+7.6%) and WAPCO (+7.6%) drove the benchmark index higher by 0.5% to 98,174.99 points. Accordingly, the Month-to-Date and Year-to-Date returns improved to +0.7% and +31.3%, respectively.
The total volume of trades declined by 55.8% to 511.31 million units, valued at NGN19.74 billion, and exchanged in 9,266 deals. TANTALIZER was the most traded stock by volume at 88.33 million units, while SEPLAT was the most traded stock by value at NGN8.03 billion.
Analyzing by sectors, the Oil & Gas (+3.2%), Insurance (+1.6%), and Industrial Goods (+0.8%) advanced, while the Consumer Goods (-0.2%) and Banking (-0.1%) indices declined.
As measured by market breadth, market sentiment was positive (1.9x), as 40 tickers gained relative to 21 losers. GOLDBREW (+9.8%) and THOMASWY (+9.8%) topped the gainers’ list, while SUNUASSUR (-9.9%) and LEARNAFRICA (-9.9%) recorded the highest losses of the day.
CURRENCY
The naira remained stable at NGN1,672.69/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM) but appreciated by 0.7% to NGN1,644.00/USD in the Electronic Foreign Exchange Matching System (EFEMS).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 40bps to 26.7% 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 4bps to 25.4%. Across the curve, the average yield declined at the short (-2bps), mid (-10bps), and long (-2bps) segments, driven by participants’ demand for the 78DTM (-2bps), 92DTM (-59bps), and 323DTM (-2bps) bills, respectively. Conversely, the average yield expanded by 30bps to 27.3% in the OMO segment.
Elsewhere, activities in the FGN bond secondary market were quiet, as the average yield held steady at 19.1%. Across the benchmark curve, the average yield inched higher at the short (+1bp) end following selloffs of the JAN-2026 (+2bps) bond, while it closed flat at the mid and long segments.
