EQUITIES
For the third consecutive session in a row, the Nigeria Exchange market closed on a positive note. The bulls continued to dominate the market as buying interest in TRANSCOHOT (+6.2%) and NESTLE (+10.0%) drove the benchmark index higher by 0.4% to 109,467.64 points. Sequentially, the Month-to-Date and Year-to-Date returns improved to +3.5% and +6.4%, respectively.
The total volume of trades increased by 37.4% to 729.88 million units, valued at NGN13.88 billion, and exchanged in 14,743 deals. FCMB was the most traded stock by volume at 273.04 million units, while MTNN was the most traded stock by value at NGN3.44 billion.
Analysing by sectors, the Consumer Goods (+1.2%), Banking (+0.2%), and Industrial Goods (+0.2%) indices advanced while the Oil & Gas (-0.2%) index declined. The Insurance index closed flat.
As measured by market breadth, market sentiment was positive (1.5x), as 34 tickers gained relative to 23 losers. HONYFLOUR (+10.0%) and NESTLE (+10.0%) led the gainers, while MULTIVERSE (-9.6%) and WAPIC (-4.7%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.2% to NGN1,593.53/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate declined by 202bps to 27.4% following inflows from FGN bond coupon (NGN175.60 billion).
The Treasury bills secondary market was quiet, as the average yield remained unchanged at 20.9%. Across the curve, the average yield contracted at the short (-1bp) end, driven by the demand for the 7DTM (-2bps) bill, but remained unchanged at the mid and long segments. Meanwhile, the average yield contracted by 2bps to 26.8% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a calm note, albeit with a bearish tilt as the average yield expanded by 1bp to 18.7%. Across the benchmark curve, the average yield expanded at the short (+3bps) end, driven by sell pressures on the JAN-2026 (+13bps) bond, but was unchanged at the mid and long segments.
