EQUITIES
The local bourse closed today’s session on a negative note, as selloffs in GTCO (-3.2%), WAPCO (-4.0%), DANGSUGAR (-10.0%) and ACCESSCORP (-5.0%) drove the All-Share Index lower by 0.4% to 140,929.60 points. Consequently, the Month-to-Date and Year-to-Date returns moderated to +0.5% and +36.9%, respectively.
The total volume traded declined by 55.4% to 759.08 million units, valued at NGN25.73 billion and exchanged in 23,657 deals. ZENITHBANK was the most traded stock by volume and value at 104.43 million units and NGN6.91 billion, respectively.
Sectoral performance was negative, as the Oil & Gas (-1.8%), Banking (-1.0%), Insurance (-0.8%), Industrial Goods (-0.6%), and Consumer Goods (-0.1%) all closed lower.
As measured by market breadth, market sentiment was negative (0.4x), as 15 tickers gained relative to 34 losers. DANGSUGAR (-10.0%) and WEMABANK (-8.3%) led the losers, while THOMASWY (+9.8%) and CHELLARAM (+9.6%) posted the most significant gains of the day.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,492.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 103bps to 25.9% following the OMO repayment (NGN254.90 billion).
The NTB secondary market was bullish, as the average yield contracted by 5bps to 18.4%. Across the curve, the average yield contracted at the short (-1bp), mid (-3bps) and long (-8bps) segments, driven by the demand for the 86DTM (-1bp),107DTM (-60bps), and 303DTM (-66bps) bills, respectively. Similarly, the average yield contracted by 1bp to 22.0% in the OMO segment.
Elsewhere, proceedings in the FGN bond secondary market were quiet, as the average yield closed flat at 16.4%. Across the benchmark curve, the average yield expanded at the short (+1bp) end due to sell pressures on the JAN-2026 (+6bps) bond, but contracted at the long (-1bp) end driven by the demand for the JUN-2053 (-7bps) bond. The average yield remained unchanged at the mid segment.
