EQUITIES
Bullish sentiment resurfaced in the domestic stock market as gains in DANGCEM (+5.3%) and TRANSCORP (+8.9%) drove the All-Share Index up by 0.7% to 106,574.98 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +2.0% and +3.5%, respectively.
The total volume of trades declined by 15.6% to 478.61 million units, valued at NGN11.76 billion, and exchanged in 15,561 deals. ACCESSCORP was the most traded stock by volume at 38.73 million units, while TRANSCORP was the most traded stock by value at NGN2.10 billion.
Sectoral performance was mixed, as the Industrial Goods (+2.4%), Banking (+0.4%), and Insurance (+0.2%) indices advanced, while the Consumer Goods (-0.5%) index declined. The Oil & Gas index remained unchanged.
As measured by market breadth, market sentiment was positive (1.7x), as 38 tickers gained relative to 23 losers. ELLAHLAKES (+10.0%) and HONYFLOUR (+9.9%) led the gainers, while INTENEGINS (-9.8%) and SOVRENINS (-9.0%) posted the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 0.4% to NGN1,506.40/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 7bps to 32.9% in the absence of any significant funding pressure on the system.
Proceedings in the Treasury bills secondary market were bullish, as the average yield contracted by 8bps to 22.4%. Across the curve, the average yield contracted at the short (-14bps), mid (-1bp) and long (-9bps) segments, driven by the demand for the 58DTM (-88bps), 177DTM (-1bp) and 303DTM (-52bps) bills, respectively. Similarly, the average yield declined by 20bps to 26.8% in the OMO segment.
The Treasury bond secondary market traded on a bullish note, as the average yield declined by 4bps to 20.1%. Across the benchmark curve, the average yield declined at the short (-7bps) and mid (-7bps) segments due to buying interest in the JAN-2026 (-58bps) and APR-2032 (-37bps) bonds, respectively. The average yield remained unchanged at the long end.
