EQUITIES
The bulls continued to dominate the Nigerian equities market as buying interest in DANGCEM (+1.9%) and TRANSCOHOT (+8.6%) drove a 0.4% increase in the benchmark index to 109,231.96 points. Accordingly, the Month-to-Date and Year-to-Date returns improved to +3.4% and +6.1%, respectively.
The total volume of trades declined by 5.7% to 554.07 million units, valued at NGN68.65 billion, and exchanged in 16,704 deals. FIDELITYBK was the most traded stock by volume at 69.76 million units, while GTCO was the most traded stock by value at NGN3.10 billion.
Analysing by sectors, the Banking (+1.0%), Industrial Goods (+1.0%) and Insurance (+0.3%) indices advanced while Oil & Gas (-1.4%) and Consumer Goods (-1.3%) indices declined.
As measured by market breadth, market sentiment was positive (1.8x), as 37 tickers gained relative to 21 losers. CHELLARAM (+10.0%) and BETAGLAS (+10.0) led the gainers, while ABBEYBDS (-10.0%) and LIVESTOCK (-9.8%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.2% to NGN1,612/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate increased by 5bps to 27.0% in the absence of any significant funding pressures on the system.
The Treasury bills secondary market was bullish, as the average yield contracted by 3bps to 20.9%. Across the curve, the average yield increased at the short (+1bp) end driven by the sell offs of the 91DTM (+14bps) bill, while it contracted at the mid (-1bp) and long (-6bps) segments, following demand for the 182DTM (-91bps) and 350DTM (-6bps) bills, respectively. Similarly, the average yield contracted by 2bps to 26.8% in the OMO segment.
The FGN bond secondary market was bullish as the average yield contracted by 3bps to 18.7%. Across the benchmark curve, the average yield contracted at the short (-11bps) end, driven by buying interest in the JAN-2026 (-55bps) bond, but was unchanged at the mid and long segments.
