EQUITIES
Bearish sentiments resurfaced in the domestic equities market, as sell pressures in MTNN (-4.4%) drove the All-Share Index lower by 0.5% to 98,523.56 points. Consequently, the Month-to-Date and Year-to-Date returns moderated to +2.0% and +31.8%, respectively.
The total volume of trades declined by 42.9% to 344.36 million units, valued at NGN6.61 billion, and exchanged in 9,005 deals. UBA was the most traded stock by volume and value at 29.18 million units and NGN756.09 million, respectively.
On sectors, the Insurance (+0.6%) and Consumer Goods (+0.2%) indices advanced, while the Banking (-0.4%), Oil & Gas (-0.1%) and Industrial Goods (-0.1%) indices settled lower.
As measured by market breadth, market sentiment was mixed (1.0x), as 27 tickers gained relative to 26 losers. FTNCOCOA (+9.8%) and ELLAHLAKES (+9.8%) led the gainers, while CAVERTON (-9.7%) and CADBURY (-9.4%) recorded the highest losses of the day.
CURRENCY
The naira appreciated by 5.8% to NGN1,576.10/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 172bps to 22.7% despite inflows from FGN bond coupon payments (NGN335.78 billion).
The T-bills secondary market traded with bearish sentiments as the average yield expanded by 11bps to 21.9%. Across the curve, the average yield expanded at the short (+5bps) and long (+23bps) ends due to selloffs of the 91DTM (+41bps) and 196DTM (+79bps) bills, respectively, but declined slightly at the mid (-1bp) segment following interests in the 182DTM (-1bp) bill. Similarly, the average yield expanded by 3bps to 23.7% in the OMO segment.
The Treasury bond secondary market traded on a calm note, as the average yield remained unchanged at 18.6%. Across the benchmark curve, the average yield expanded slightly at the short (+1bp) end following the selloff of the JAN-2026 (+1bp) bond but closed flat at the mid and long segments.
