EQUITIES
The domestic bourse extended its bullish momentum in today’s session as buying interests in DANGCEM (+10.0%), BUACEMENT (+10.0%), and FIRSTHOLDCO (+9.9%) drove the All-Share Index higher by 1.0% to 130,283.86 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +8.6% and +26.6%, respectively.
The total volume of trades declined by 89.8% to 1.19 billion units, valued at NGN42.76 billion, and exchanged in 37,418 deals. ACCESSCORP was the most traded stock by volume at 168.10 million units, while ZENITHBANK was the most traded stock by value at NGN6.29 billion.
Sectoral performance was mixed as the Industrial Goods (+9.1%) and Consumer Goods (+0.5%) indices closed higher, while the Banking (-2.3%), Insurance (-0.9%) and Oil & Gas (-0.6%) indices declined.
As measured by market breadth, market sentiment was negative (0.7x), as 29 tickers gained relative to 44 losers. BUACEMENT (+10.0%) and DANGCEM (+10.0%) led the gainers, while HMCALL (-10.0%) and MECURE (-10.0%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.9% to NGN1,518.21/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 17bp to 32.8%, in the absence of any significant funding pressure on the system.
The NTB secondary market traded on a bullish note, as the average yield pared by 1bp to 18.3%. Across the curve, the average yield contracted at the short (-1bp) and long (-3bps) ends, driven by demand for the 84DTM (-1bp) and 252DTM (-28bps) bills, respectively, but expanded at the mid (+2bps) segment due to profit-taking activities on the 175DTM (+26bps) bill. Meanwhile, the average yield expanded by 8bps to 24.7% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note, as the average yield contracted by 8bps to 16.4%.
Across the benchmark curve, the average yield contracted at the short (-14bps), mid (-11bps) and long (-2bps) segments, driven by the demand for the MAR-2027 (-90bps), FEB-2034 (-19bps) and JUL-2045 (-35bps) bonds, respectively.
Cordros
