EQUITIES
The local bourse commenced the week on a positive note, underpinned by gains in FIRSTHOLDCO (+9.8%) and GTCO (+1.6%). Consequently, the All-Share Index advanced by 0.3% to 121,295.33 points with the Month-to-Date and Year-to-Date returns settling higher at +1.1% and +17.9%, respectively.
The total volume of trades declined by 10.8% to 824.10 million units, valued at NGN14.44 billion, and exchanged in 24,042 deals. UNIVINSURE was the most traded stock by volume at 71.92 million units, while NB was the most traded stock by value at NGN2.39 billion.
On sectors, the Banking (+0.9%), Consumer Goods (+0.8%), and Insurance (+0.4%) indices advanced while the Oil & Gas and Industrial Goods indices were unchanged.
As measured by market breadth, market sentiment was positive (2.3x), as 52 tickers gained relative to 23 losers. ELLAHLAKES (+10.0%) and UPDCREIT (+10.0%) led the gainers, while SUNUASSUR (-10.0%) and RTBRISCOE (-9.6%) recorded the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 0.1% to NGN1,529.50/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 17bps to 27.3%, in the absence of any significant inflows into the system.
Proceedings in the Treasury bill secondary market were bullish, as the average yield contracted by 4bps to 19.2%. Across the curve, the average yield contracted at the short (-2bps), mid (-5bps) and long (-5bps) segments, driven by the demand for the 80DTM (-3bps), 94DTM (-137bps). and 318DTM (-55bps) bills, respectively. Similarly, the average yield contracted by 1bp to 25.7% in the OMO segment.
Similarly, the FGN bond secondary market traded on a bullish note, as the average yield contracted by 8bps to 17.2%. Across the benchmark curve, the average yield expanded at the short (+8bps) end, driven by the selloffs of the JAN-2026 (+39bps) bond while it contracted at the mid (-8bps) and long (-17bps) segments, driven by demand for the MAR-2035 (-20bps) and MAR-2050 (-30bps) bonds, respectively.
