EQUITIES
Sentiments remained bullish in the domestic bourse as bargain hunting activities in FBNH (+10.0%) and OANDO (+10.0%) spurred a 0.5% increase in the benchmark index. As a result, the All-Share Index closed at 96,510.13 points, with the Month-to-Date and Year-to-Date returns settling at -1.3% and +29.1%, respectively.
The total volume of trades increased by 17.5% to 443.16 million units, valued at NGN5.64 billion, and exchanged in 8,493 deals. VERITASKAP was the most traded stock by volume at 83.08 million units, while ACCESSCORP was the most traded stock by value at NGN1.06 billion.
Sectorial performance was broadly positive, as the Oil & Gas (+4.1%), Banking (+1.5%), Insurance (+1.3%), and Consumer Goods (+0.5%) indices inched higher, while the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (3.4x), as 47 tickers gained relative 14 losers. JOHNHOLT (+10.0%) and NEIMETH (+10.0%) recorded the most significant gains of the day, while UPL (-9.6%) and CUTIX (-6.3%) topped the losers’ list.
CURRENCY
The naira appreciated by 0.2% to NGN1,594.27/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 85bps to 26.4%, following net debits for the OMO auction (NGN853.46 billion) conducted yesterday.
The Nigerian treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 32bps to 21.4%. Across the curve, the average yield declined at the short (-98bps) and mid (-24bps) segments, driven by buying interest in the 17DTM (-117bps) and 178DTM (-238bps) bills, respectively. Meanwhile, the average yield expanded at the long (+5bps) end due to a sell-off of the 192DTM (+55bps) bill. Meanwhile, the average yield expanded by 2bps to 24.5% in the OMO segment.
In the same vein, the Treasury bond secondary market closed on a bullish note, as the average yield declined by 20bps to 19.1%. Across the benchmark curve, the average yield dipped at the short (-38bps) and long (-21bps) ends following profit-taking activities on the MAR-2025 (-194bps) and JUN-2053 (-92bps) bonds, respectively but closed flat at the mid segment.
