EQUITIES
The Nigerian Equities market reversed yesterday’s gains as sell pressures in MTNN (-4.2%), TRANSCORP (-1.1%) and ACCESSCORP (-1.8%) triggered a 0.4% decline in the All-Share Index to 106,167.75 points. Thus, the Month-to-Date and Year-to-Date returns settled at -1.5% and +3.2% respectively.
The total volume traded declined by 11.1% to 324.59 million units, valued at NGN7.92 billion, and exchanged in 12,652 deals. FIDELITYBK was the most traded stock by volume at 29.39 million units, while GTCO was the most traded stock by value at NGN1.68 billion.
On sectors, the Consumer Goods (-0.3%) and Banking (-0.2%), indices posted losses while the Insurance (+0.9%) index gained. The Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative (0.7x), as 21 tickers gained relative to 30 losers. MECURE (-10.0%) and ABCTRANS (-8.0%) recorded the highest losses of the day, while LIVESTOCK (+9.9%) and CORNERST (+9.3%) led the gainers.
CURRENCY
The official FX rate depreciated by 0.2% to NGN1,533.15/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 17bps to 32.7% in the absence of any significant funding pressure on the system.
The Treasury bills secondary market traded on a calm note, as the average yield remained unchanged at 19.0%. Across the curve, the average yield contracted at the short (-3bps) and mid (-1bp) segments due to the demand for the 30DTM (-11bps) and 177DTM (-1bp) bills respectively but expanded at the long (+2bps) end, driven by profit taking activities on the 254DTM (+38bps) bill. Elsewhere, the average yield expanded by 2bps to 22.4% in the OMO segment.
Activities in the FGN bond secondary market remained calm, as the average yield closed flat at 18.2%. Across the benchmark curve, the average yield declined at the short (-1bp) end, driven by interest in the MAR-2025 (-14bps) bond, but expanded at the mid (+3bps) segment due to the sell off of the FEB-2031 (+13bps) bond. The average yield closed flat at the long end.
