EQUITIES
The domestic bourse sustained its bullish momentum, as gains in AIRTELAFRI (+10.0%), GTCO (+2.1%), and WAPCO (+3.1%) lifted the All-Share Index by 1.6% to 111,606.22 points. Consequently, the Month-to-Date and Year-to-Date returns improved to +5.5% and +8.4%, respectively.
The total volume traded declined by 1.2% to 409.57 million units, valued at NGN9.87 billion, and exchanged in 15,992 deals. CUSTODIAN was the most traded stock by volume at 37.59 million units, while GTCO was the most traded stock by value at NGN1.57 billion.
Sectoral performance was positive, as the Insurance (+2.2%), Banking (+0.8%), Oil & Gas (+0.8%), Industrial Goods (+0.5%) and Consumer Goods (+0.1%) indices all advanced.
As measured by market breadth, market sentiment was positive (1.8x), as 36 tickers gained relative to 20 losers. AIRTELAFRI (+10.0%) and OMATEK (+9.2%) led the gainers, while MCNICHOLS (-9.8%) and CWG (-9.5%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.4% to NGN1,575.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 11bps to 26.9% in the absence of any significant funding pressure on the system.
Proceedings in the Treasury bill secondary market were bullish, as the average yield contracted by 2bps to 20.6%. Across the curve, the average yield contracted at the short (-1bp), mid (-2bps) and long (-5bps) segments, driven by the demand for the 72DTM (-1bp), 177DTM (-7bps) and 191DTM (-27bps) bills, respectively. Similarly, the average yield contracted by 6bps to 26.2% in the OMO segment.
The Treasury bond secondary market traded on a calm note, with a bullish undertone, as the average yield pared by 1bp to 18.7%. Across the benchmark curve, the average yield contracted at the short (-2bps) end, driven by buying interest in the JAN-2026 (-11bps) bond. The average yield remained unchanged at the mid and long segments.
