EQUITIES
Bearish sentiments persisted in the domestic stock market, as losses in ACCESSCORP (-2.9%), UACN (-8.2%), NB (-1.3%), and OANDO (-1.3%) drove the All-Share Index down by 0.1% to 146,862.00 points. Consequently, the Month-to-Date and Year-to-Date returns moderated to +2.3% and +42.7%, respectively.
The total volume traded declined by 62.2% to 747.09 million units, valued at NGN12.43 billion, and exchanged in 19,161 deals. CUTIX was the most traded stock by volume at 122.91 million units, while GEREGU was the most traded stock by value at NGN2.74 billion.
Sectoral performance was broadly negative as the Insurance (-0.4%), Consumer Goods (-0.1%), Banking (-0.1%), and Oil & Gas (-0.1%) indices declined, while the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.1x), as 26 tickers gained relative to 23 losers. JAPAULGOLD (+10.0%) and PRESTIGE (+9.4%) led the gainers, while CHAMS (-10.0%) and HMCALL (-8.9%) posted the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 0.8% to NGN1,459.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 4bps to 22.8% in the absence of significant liquidity flows into the system.
The NTB secondary market traded on a bullish note, as the average yield contracted by 6bps to 17.7%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-12bps) segments, driven by demand for the 92DTM (-1bp), 176DTM (-1bp) and 253DTM (-130bps) bills, respectively. Similarly, the average yield contracted by 20bps to 21.8% in the OMO segment.
Elsewhere, the FGN bond secondary market traded with bearish sentiments, as the average yield expanded by 3bp to 16.5%.
Across the curve, the average yield expanded at the short (+9bps) end, due to the sell-off of the MAR-2027 (+58bps) bond, but contracted at the mid (-1bp) segment due to buying interest in the APR-2032 (-6bps) bond. The average yield closed flat at the long end.
