EQUITIES
The local bourse ended today’s session on a bearish note, as profit-taking activities in WAPCO (-2.1%), ARADEL (-1.5%), and ZENITHBANK (-1.7%) caused a 0.1% decline in the All-Share Index to 98,114.11 points. Sequentially, the Month-to-Date and Year-to-Date returns moderated to +0.6% and +31.2%, respectively.
The total volume traded increased by 39.8% to 714.75 million units, valued at NGN12.76 billion, and exchanged in 8,354 deals. CHAMPION was the most traded stock by volume at 300.93 million units, while GTCO was the most traded stock by value at NGN2.12 billion.
Across sectors, the Banking (-0.3%) and Industrial Goods (-0.2%) indices declined, while the Insurance (+3.1%) and Oil & Gas (+1.1%) indices advanced. Meanwhile, the Consumer Goods index remained unchanged.
As measured by market breadth, market sentiment was positive (2.1x), as 34 tickers gained relative to 16 losers. UPL (+10.0%) and CORNERST (+10.0%) led the gainers, while REDSTAREX (-10.0%) and FTNCOCOA (-5.6%) posted the most notable losses of the day.
CURRENCY
The naira remained unchanged at NGN1,672.69/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM) but appreciated by 1.6% to NGN1,607.05/USD in the Electronic Foreign Exchange Matching System (EFEMS).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 75bps to 27.5% following debits for the net NTB issuance (NGN173.44 billion)
Trading activities in the T-bills secondary market were bearish, as the average yield expanded by 20bps to 25.7%. Across the curve, the average yield expanded at the short (+46bps), mid (+20bps), and long (+5bps) segments following selloffs of the 49DTM (+113bps), 126DTM (+85bps), and 203DTM (+28bps) bills, respectively. Conversely, the average yield contracted by 32bps to 27.2% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a calm note as the average yield remained unchanged at 19.1%. Across the benchmark curve, the average yield expanded slightly at the short (+1bp) end due to the selloff of the JAN-2026 (+2bps) bond but closed flat at the mid and long segments.
