EQUITIES
Bullish sentiments resurfaced in the local bourse today as gains in TRANSCORP (+2.0%) and FIDELITYBK (+4.5%) drove the All-Share Index higher by 0.1% to 165,713.82 points. As a result, the Month-to-Date and Year-to-Date returns settled higher at +6.5%.
The total volume of trades declined by 19.7% to 483.09 million units, valued at NGN17.38 billion, and exchanged in 41,499 deals. ACCESSCORP was the most traded stock by volume at 26.46 million units, while GEREGU was the most traded stock by value at NGN2.78 billion.
On sectors, performance was broadly positive as the Insurance (+1.2%), Consumer Goods (+0.5%) and Industrial Goods (+0.1%) indices advanced, while the Banking (-0.1%) index declined. The Oil & Gas index closed flat.
As measured by market breadth, market sentiment was positive (1.3x), as 33 tickers gained relative to 25 losers. SCOA (+10.0%) and UHOMREIT (+10.0%) led the gainers, while AUSTINLAZ (-10.0%) and NEIMETH (-9.6%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 1.2% to NGN1,400.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 22.8% despite inflows from OMO maturities (NGN2.14 trillion).
The NTB secondary market traded on a quiet note albeit with a bullish tilt, as the average yield contracted by 1bp to 18.4%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-2bps) segments driven by the demand for the 86DTM (-1bp), 177DTM (-1bp) and 359DTM (-9bps) bills, respectively. Similarly, the average yield contracted by 2bps to 22.4% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note as the average yield contracted by 3bps to 15.7%. Across the curve, the average yield contracted at the short (-8bps) and mid (-1bp) segments driven by the buying interests on the AUG-2030 (-55bps) and JUN-2033 (-3bps) bonds, respectively but remained unchanged at the long end.
