EQUITIES
The domestic bourse commenced the week on a positive note as buying interests in BUACEMENT (+5.2%), PRESCO (+5.1%), and WAPCO (+1.8%) drove the All-Share Index higher by 0.2% to 131,826.77 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +9.9% and +28.1%, respectively.
The total volume of trades declined by 78.9% to 706.04 million units, valued at NGN21.56 billion, and exchanged in 30,750 deals. ACCESSCORP was the most traded stock by volume at 61.73 million units, while PRESCO was the most traded stock by value at NGN3.11 billion.
On sectors, performance was mixed as the Industrial Goods (+1.5%) and Consumer Goods (+0.1%) indices closed higher, while the Insurance (-1.4%), Banking (-0.4%), and Oil & Gas (-0.1%) indices declined.
As measured by market breadth, market sentiment was negative (0.6x), as 29 tickers gained relative to 45 losers. INTENEGINS (+10.0%) and NCR (+10.0%) led the gainers, while MEYER (-10.0%) and MCNICHOLS (-10.0%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.8% to NGN1,520.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 16bps to 32.8%, despite inflows from FGN bond coupon payment (NGN89.84 billion).
The NTB secondary market traded on a bullish note, as the average yield contracted by 5bps to 17.2%. Across the curve, the average yield contracted at the short (-2bps), mid (-3bps) and long (-9bps) segments, driven by the demand for the 66DTM (-3bps), 171DTM (-6bps) and 248DTM (-33bps) bills, respectively. Similarly, the average yield contracted by 6bps to 24.6% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note, as the average yield contracted by 8bps to 16.3%. Across the benchmark curve, the average yield expanded at the short (+14bps) end, driven by the selloff of the JAN-2026 (+34bps) bond but contracted at the mid (-36bps) and long (-3bps) segments, driven by the demand for the APR-2032 (-63bps) and JAN-2042 (-16bps) bonds, respectively.
