EQUITIES
Trading in the domestic bourse kicked off the week on a positive note as buying interest in TRANSCORP (+3.3%) and OANDO (+3.1%) drove the All-Share Index higher by 2bps to close at 102,370.62 points. Thus, the Year-to-Date return printed -0.5%.
The total volume traded increased significantly by 288.6% to 1.25 billion units, valued at NGN16.35 billion, and exchanged in 11,477 deals. WEMABANK was the most traded stock by volume and value at 980.04 million units and NGN9.80 billion, respectively.
Analyzing by sectors, the Insurance (+2.1%), Industrial Goods (+0.2%) and Banking (+0.1%) indices gained, while the Consumer Goods (-0.5%) and Oil & Gas (-0.1%) indices posted losses.
As measured by market breadth, market sentiment was positive (1.2x), as 30 tickers gained relative to 25 losers. CAVERTON (+10.0%) and WAPIC (+9.9%) topped the gainers’ list, while JOHNHOLT (-9.6%) and NSLTECH (-9.0%) recorded the most significant losses of the day.
CURRENCY
The naira depreciated by 0.2% to NGN1,550.05/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 5bps to 32.8% following inflows from FGN bond coupon (NGN66.11 billion).
The NTB secondary market traded on a bullish note, as the average yield contracted by 5bp to 25.2%. Across the curve, the average yield declined at the short (-5bps), mid (-5bps) and long (-6bps) segments following demand for the 66DTM (-5bps), 171DTM (-5bps) and 353DTM (-6bps) bills, respectively. Similarly, the average yield declined by 7bps to 28.3% in the OMO segment.
Proceedings in the FGN bond secondary market were quiet, albeit with a bearish tilt, as the average yield inched higher by 1bp to 19.7%. Across the benchmark curve, the average yield expanded at the short (+2bps) and mid (+1bp) segments due to a sell-off on the JAN-2026 (+5bps) and FEB-2031 (+3bps) bonds, respectively. Meanwhile, the average yield closed flat at the long end.
