EQUITIES
The local bourse extended yesterday’s bullish performance as bargain hunting in ARADEL (+7.5%), CONOIL (+10.0%) and WAPCO (+1.5%) drove the benchmark index 0.3% higher. Thus, the All-Share index closed at 98,509.68 points, with the Month-to-Date and Year-to-Date returns increasing to +1.0% and +31.7%, respectively.
The total volume of trades declined by 66.8% to 311.26 million units, valued at NGN6.35 billion, and exchanged in 7,799 deals. ETRANZACT was the most traded stock by volume at 70.27 million units, while ARADEL was the most traded stock by value at NGN1.22 billion.
Sectoral performance was broadly positive as the Oil & Gas (+2.6%), Insurance (+2.3%), Industrial Goods (+0.2%), and Banking (+0.1%) indices all inched higher while the Consumer Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.9x), as 33 tickers gained relative to 17 losers. AFRIPRUD (+10.0%) and CONOIL (+10.0%) led the gainers, while JBERGER (-10.0%) and NSLTECH (-9.5%) posted the highest losses of the day.
CURRENCY
The naira appreciated by 4bps to NGN1,548.46/USD in the Electronic Foreign Exchange Matching System (EFEMS).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 10bps to 32.7% in the absence of any significant inflows into the system.
Trading in the Treasury bills secondary market was bearish, as the average yield expanded by 5bps to 25.7%. Across the curve, the average yield declined at the short (-2bps) and long (-2bps) ends due to demand for the 92DTM (-2bps) and 344DTM (-2bps) bills, respectively; but expanded in the mid (+21bps) segment due to sell pressures on the 162DTM (+157bps) bill. Conversely, the average yield declined by 2bps to 27.2% in the OMO segment.
Activities in the FGN bond secondary market were quiet as the average yield closed flat at 19.1%. Across the benchmark curve, the average yield expanded at the short (+1bp) end due to the sell-off on the JAN-2026 (+2bps) bond but remained unchanged at the mid and long segments.
