EQUITIES
The domestic stock market traded on a bearish note as selloffs in ACCESSCORP (-4.2%) and OANDO (-4.8%) drove a 0.1% decline in the benchmark index to 109,619.10 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at +3.6% and +6.5%, respectively.
The total volume of trades increased by 33.6% to 664.16 million units, valued at NGN13.00 billion, and exchanged in 19,439 deals. JAPAULGOLD was the most traded stock by volume at 90.02 million units, while NB was the most traded stock by value at NGN3.13 billion.
Analysing by sectors, the Insurance (+1.1%) and Consumer Goods (+0.5%) indices advanced, while the Banking (-0.8%), Oil & Gas (-0.5%) and Industrial Goods (-0.1%) indices declined.
As measured by market breadth, market sentiment was neutral (1.0x), as 27 tickers gained relative to 27 losers. CHAMPION (-10.0%) and LASACO (-10.0%) recorded the most significant losses of the day, while RTBRISCOE (+10.0%) and LIVESTOCK (+9.6%) led the gainers.
CURRENCY
The official FX rate depreciated by 0.1% to NGN1,597.2/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate declined by 5bps to 26.9% in the absence of any significant inflows into the system.
Activities in the treasury bills secondary market was quiet, as the average yield closed flat at 20.8%. Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments, driven by demand for the 92DTM (-1bp) and 169DTM (-1bp) bills, respectively, while it closed flat at the long end. Meanwhile, the average yield contracted by 2bps to 26.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded with bullish sentiments as the average yield contracted by 3bps to 18.7%. Across the benchmark curve, the average yield contracted at the short (-7bps) and mid (-4bps) segments, driven by buying interest in the MAR-2027 (-18bps) and FEB-2031 (-20bps) bonds, respectively, but remained unchanged at the long end.
