EQUITIES
Bullish sentiments persisted in the local bourse as gains in ARADEL (+7.1%), MTNN (+3.7%), BUACEMENT (+4.9%), and WAPCO (+10.0%) drove the All-Share Index higher by 1.6% to 176,809.42 points. As a result, the Month-to-Date and Year-to-Date returns settled higher at +6.9% and +13.6%, respectively.
The total volume traded increased by 68.1% to 1.30 billion units, valued at NGN50.43 billion, and exchanged in 58,965 deals. DEAPCAP was the most traded stock by volume at 283.12 million units while MTNN was the most traded stock by value at NGN6.80 billion.
Sectoral performance was positive as the Oil & Gas (+3.0%), Industrial Goods (+2.9%), Banking (+1.8%) and Consumer Goods (+0.2%) indices closed higher while the Insurance index closed flat.
As measured by market breadth, market sentiment was positive (3.0x), as 64 tickers gained relative to 21 losers. JOHNHOLT (+10.0%) and ETRANZACT (+10.0%) led the gainers, while ABBEYBDS (-9.8%) and SKYAVN (-9.1%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.2% to NGN1,356.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 6bps to 22.9%, despite inflows from OMO maturities (NGN993.00 billion).
Activities in the Treasury bills secondary market were quiet, as the average yield remained unchanged at 17.5%. Across the curve, the average yield contracted at the short (-1bp) end due to the demand for the 86DTM (-1bp) bill, but remained unchanged at the mid and long segments. Meanwhile, the average yield contracted by 2bps to 21.7% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note, as the average yield contracted by 16bps to 15.9%. Across the benchmark curve, the average yield expanded at the short (+2bps) end, driven by the selloff of the FEB-2031 (+7bps) bond but contracted at the mid (-8bps) and long (-34bps) segments due to the buying interests in the MAR-2035 (-35bps) and JUN-2053 (-88bps) bonds, respectively.
