EQUITIES
Positive sentiments resurfaced in the domestic stock market driven by gains in DANGCEM (+3.1%), DANGSUGAR (+9.9%) and GTCO (+1.1%). Consequently, the All-Share Index inched higher by 0.1% to 102,183.06 points, with the Year-to-Date return settling at -0.7%.
The total volume of trades advanced by 9.5% to 472.16 million units, valued at NGN16.70 billion, and exchanged in 12,336 deals. GTCO was the most traded stock by volume and value at 65.05 million units and NGN3.77 billion, respectively.
On sectors, the Industrial Goods (+1.4%), Banking (+0.2%), and Consumer Goods (+0.2%) indices advanced, while the Oil & Gas (-2.5%) and Insurance (-1.3%) indices settled lower.
As measured by market breadth, market sentiment was negative (0.7x), as 34 tickers lost relative to 25 gainers. LIVESTOCK (-10.0%) and NEIMETH (-9.8%) posted the most significant losses of the day, while NNFM (+10.0%) and DANGSUGAR (+9.9%) led the gainers.
CURRENCY
The naira appreciated by 0.2% to NGN1,548.47/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 2bps to 32.6% in the absence of any significant inflows into the system.
Proceedings in the NTB secondary market were bullish, as the average yield contracted by 6bps to 25.2%. Across the curve, the average yield contracted at the short (-13bps), mid (-2bps) and long (-4bps) segments, driven by the demand for the 49DTM (-65bps), 175DTM (-2bps) and 357DTM (-21bps) bills, respectively. Similarly, the average yield contracted by 1bp to 28.4% in the OMO segment.
In contrast, the Treasury bond secondary market traded with bearish sentiments, as the average yield expanded by 8bps to 19.7%. Across the benchmark curve, the average yield advanced at the short (+1bp) and mid (+42bps) segments following selloffs of the JAN-2026 (+3bps) and JUL-2034 (+138bps) bonds, respectively, but declined at the long (-8bps) end due to buying interest in the APR-2037 (-71bps) bond.
