EQUITIES
Bearish sentiments persisted in the Nigerian equities market as sell pressures on BUACEMENT (-10.0%) drove the NGX ASI down by 0.7% to 96,928.52 points. Thus, the MTD and YTD returns settled at -0.9% and +29.6%, respectively.
The total trading volume increased by 38.6% to 449.21 million units, valued at NGN6.74 billion, and exchanged in 9,381 deals. UBA was the most traded stock by volume and value at 62.83 million units and NGN1.31 billion, respectively.
From a sectoral perspective, the Industrial Goods (-3.7%) and Oil & Gas (-0.2%) indices declined, while the Consumer Goods (+0.5%), Insurance (+0.3%), and Banking (+0.2%) indices advanced.
As measured by market breadth, market sentiment was positive (1.1x), as 28 tickers gained relative to 25 losers. NASCON (+10.0%) and ACADEMY (+10.0%) recorded the most significant gains of the day, while BUACEMENT (-10.0%) and THOMASWY (-8.5%) led the losers.
CURRENCY
The naira appreciated by 0.4% to NGN1,601.00/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 10bps to 25.9%, despite the inflows from OMO maturities (NGN45.43 billion).
The T-bills secondary market remained bearish, as the average yield expanded by 4bps to 25.8%. Across the curve, the average yield pared at the short (-1bp) and mid (-1bp) segments, driven by mild interest in the 79DTM (-1bp) and 170DTM (-2bps) bills, respectively. Meanwhile, the average yield advanced at the long (+9bps) end, following sell pressures on the 212DTM (+93bps) bill. Elsewhere, the average yield contracted by 3bps to 25.7% in the OMO segment.
Similarly, the Treasury bond secondary market traded with bearish sentiments, as the average yield expanded by 2bps to 19.6%. Across the benchmark curve, the average yield advanced at the short (+6bps) end, as players took profits off the MAR-2025 (+30bps) bond but was flat at the mid and long segments.
Cordros
