EQUITIES
Trading in the domestic bourse kicked off the week on a bearish note, underpinned by losses in TRANSCOHOT (-5.6%), MTNN (-1.1%), and FIDELITYBK (-3.9%). Consequently, the All-Share Index declined by 1bp to 109,697.83 points, with the Month-to-Date and Year-to-Date returns settling at +3.7% and +6.6%, respectively.
The total volume of trades increased by 12.6% to 486.09 million units, valued at NGN11.38 billion, and exchanged in 24,883 deals. ACCESSCORP was the most traded stock by volume at 45.12 million units, while GTCO was the most traded stock by value at NGN2.21 billion.
Sectoral performance was broadly positive as the Consumer Goods (+1.6%), Insurance (+0.6%), Oil & Gas (+0.2%), and Industrial Goods (+0.2%) indices gained. The Banking (-0.7%) index was the sole loser of the day.
As measured by market breadth, market sentiment was positive (2.0x), as 45 tickers gained relative to 22 losers. ABCTRANS (-9.8%) and UPL (-9.8%) recorded the most significant losses of the day, while IKEJAHOTEL (+10.0%) and TANTALIZER (+10.0%) led the gainers.
CURRENCY
The official FX rate depreciated by 0.1% to NGN1,605/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 4bps to 27.0% in the absence of any significant inflows into the system.
The NTB secondary market traded on a bullish note, as the average yield contracted by 4bps to 20.8%. Across the curve, the average yield contracted at the short (-3bps), mid (-3bps) and long (-5bps) segments, driven by demand for 80DTM (-3bps), 129DTM (-4bps) and 353DTM (-13bps) bills, respectively. Similarly, the average yield contracted by 6bps to 26.7% in the OMO segment.
The FGN bond secondary market traded with bearish sentiments as the average yield expanded by 5bps to 18.7%. Across the benchmark curve, the average yield expanded at the short (+12bps), mid (+2bps) and long (+2bps) segments following profit-taking activities on the JAN-2026 (+51bps), FEB-2031 (+8bps) and JUN-2038 (+15bps) bonds, respectively.
