EQUITIES
The domestic bourse traded on a positive note as bargain hunting in MTNN (+10.0%), TRANSCORP (+10.0%), and FBNH (+6.6%) drove the All-Share Index higher by 0.8% to 104,230.73 points. As a result, the Year-to-Date return inched higher to +1.3%.
The total volume of trades declined by 32.0% to 756.42 million units, valued at NGN24.69 billion, and exchanged in 13,551 deals. FBNH was the most traded stock by volume at 125.71 million units, while GEREGU was the most traded stock by value at NGN11.39 billion.
Sectoral performance was mixed as the Banking (+0.6%) and Consumer Goods (+0.1%) indices advanced, while the Insurance (-0.3%) and Oil & Gas (-0.1%) indices settled lower. The Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was mixed (1.0x), as 27 tickers gained relative to 27 losers. MTNN (+10.0%) and TRANSCORP (+10.0%) led the gainers, while SUNUASSUR (-10.0%) and UNIVINSURE (-9.0%) posted the most significant losses of the day.
CURRENCY
The naira depreciated by 0.3% to NGN1,541.70/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 110bps to 27.5% in the absence of any significant inflows into the system.
Proceedings in the NTB secondary market were bullish, as the average yield contracted by 5bps to 25.4%. Across the curve, the average yield declined at the short (-1bp), mid (-18bps) and long (-2bps) segments following buying interests in the 43DTM (-35bps), 134DTM (-82bps) and 316DTM (-2bps) bills, respectively. In contrast, the average yield expanded by 24bps to 27.9% in the OMO segment.
The Treasury bond secondary market traded with bullish sentiments, as the average yield contracted by 2bps to 19.4%. Across the benchmark curve, the average yield declined at the short (-7bps) end, driven by the demand for the JAN-2026 (-38bps) bond, but pared at the mid (+1bp) segment due to sell pressures on the FEB-2031 (+2bps) bond. The average yield closed flat at the long end.
