EQUITIES
Bearish sentiments persisted in the domestic bourse as losses in BUACEMENT (-10.0%) caused a 0.4% decline in the benchmark index to 105,375.69 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -2.3% and +2.4%, respectively.
The total trading volume decreased by 28.0% to 343.75 million units, valued at NGN7.99 billion, and exchanged in 11,022 deals. ACCESSCORP was the most traded stock by volume at 36.76 million units, while ZENITHBANK was the most traded stock by value at NGN929.98 million.
Analysing by sectors, the Industrial Goods (-3.4%), Banking (-0.7%), and Oil & Gas (-0.1%) indices declined, while the Insurance (+1.1%) and Consumer Goods (+0.2%) indices advanced.
As measured by market breadth, market sentiment was positive (1.2x), as 27 tickers gained relative to 22 losers. NEIMETH (+10.0%) and NNFM (+10.0%) led the gainers, while BUACEMENT (-10.0%) and ELLAHLAKES (-4.8%) recorded the highest losses of the day.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,538.96/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate increased by 5bps to 32.9% in the absence of any significant funding pressure on the system.
The Treasury bills secondary market was quiet, albeit with a bullish tilt, as the average yield decreased by 1bp to 19.1%. Across the curve, the average yield declined at the short (-1bp), mid (-1bp), and long (-1bp) segments, driven by demand for the 79DTM (-1bp), 177DTM (-1bp), and 338DTM (-2bps) bills, respectively. Similarly, the average yield declined by 1bp to 22.3% in the OMO segment.
Proceedings in the FGN bond secondary market were bearish as the average yield increased by 19bps to 18.5%.
Across the benchmark curve, the average yield increased at the short (+58bps) and mid (+4bps) segments driven by selloffs of the MAR-2025 (+348bps) and JUL-2034 (+17bps) bonds, respectively, while the average yield closed flat at the long end.
