EQUITIES
The Nigerian equities market opened the week on a positive note as gains in DANGSUGAR (+9.1%), ZENITHBANK (+1.3%), and NASCON (+7.6%) drove the All-Share Index higher by 0.3% to 139,394.75 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -0.6% and +35.4%, respectively.
The total volume of trade declined by 47.9% to 947.87 million units, valued at NGN17.97 billion, exchanged in 36,036 deals. FCMB was the most traded stock by volume and value, at 460.95 million units and NGN4.74 billion, respectively.
Sectoral performance was mixed as the Insurance (+3.2%) and Consumer Goods (+0.6%) indices advanced, while the Banking (-0.5%) index closed lower. The Industrial Goods and Oil & Gas indices remained unchanged.
As measured by market breadth, market sentiment was positive (2.2x), as 39 tickers gained relative to 18 losers. PZ (+10.0%) and UPL (+10.0%) led the gainers, while IMG (-10.0%) and ENAMELWA (-10.0%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.5% to NGN1,512.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate declined by 5bps to 27.0% in the absence of any significant inflows into the system.
Activities in the Treasury bills secondary market were quiet, as the average yield remained unchanged at 18.7%. Across the curve, the average yield contracted at the short (-3bps) and mid (-5bps) segments, driven by the demand for the 73DTM (-4bps) and 178DTM (-13bps) bills, respectively but expanded at the long (+5bps) end due to the selloff of the 332DTM (+49bps) bill. Similarly, the average yield closed flat at 25.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note, as the average yield closed flat at 16.7%. Across the benchmark curve, the average yield expanded at the short (+1bp) end, driven by the profit-taking activities on the MAR-2027 (+2bps) bond, but remained unchanged at the mid and long segments.
Cordros
