EQUITIES
The domestic bourse extended its bullish momentum in today’s session as buying interests in DANGSUGAR (+7.0%), ACCESSCORP (+3.6%), and NESTLE (+2.2%) spurred a 0.1% increase in the All-Share Index to 132,557.43 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +10.5% and +28.8%, respectively.
The total volume traded declined by 11.7% to 681.24 million units, valued at NGN17.02 billion and exchanged in 26,931 deals. ACCESSCORP was the most traded stock by volume and value at 98.62 million units and NGN2.74 billion, respectively.
On sectors, the Banking (+0.4%), Consumer Goods (+0.3%), Oil & Gas (+0.2%) and Insurance (+0.1%) indices posted gains while the Industrial Goods (-0.6%) index was the sole loser of the day.
As measured by market breadth, market sentiment was negative (0.8x), as 28 tickers gained relative to 37 losers. ACADEMY (+10.0%) and IKEJAHOTEL (+10.0%) led the gainers, while AUSTINLAZ (-10.0%) and TRIPPLEG (-10.0%) recorded the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 0.1% to NGN1,539.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 108bps to 31.7%, following inflows from FGN bond coupon payment (NGN29.34 billion).
The NTB secondary market traded on a calm note with a bullish undertone, as the average yield pared by 1bp to 17.7%. Across the curve, the average yield contracted at the long (-4bps) end, driven by demand for the 183DTM (-29bps) bill, but expanded at the mid (+2bps) segment due to profit-taking activities on the 169DTM (+10bps) bill. The average yield remained unchanged at the short end. Conversely, the average yield expanded by 7bps to 24.7% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note, as the average yield contracted by 2bps to 16.2%. Across the benchmark curve, the average yield contracted at the short (-13bps) segment, driven by the demand for the APR-2029 (-32bps) bond, but expanded at the mid (+3bps) and long (+2bps) segments due to profit-taking activities on the FEB-2031 (+7bps) and JUN-2053 (+19bps) bonds, respectively.
