EQUITIES
The domestic bourse extended its bullish momentum in today’s session as buying interests in OANDO (+8.1%) and STANBIC (+5.4%) drove the All-Share Index higher by 0.3% to 109,059.33 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +3.1% and +6.0%, respectively.
The total volume of trades increased by 6.6% to 531.29 million units, valued at NGN19.81 billion, and exchanged in 14,870 deals. GTCO was the most traded stock by volume at 53.27 million units, while MTNN was the most traded stock by value at NGN5.59 billion.
Sectoral performance was broadly positive as the Consumer Goods (+1.3%), Oil & Gas (+0.8%), Banking (+0.6%), and Insurance (+0.2%) indices advanced while the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.3x), as 32 tickers gained relative to 24 losers. NNFM (+10.0%) and MCNICHOLS (+10.0%) led the gainers, while MULTIVERSE (-9.6%) and LEGENDINT (-5.4%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,596/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 92bps to 29.4% in the absence of any significant funding pressure on the system.
The NTB secondary market traded on a calm note, albeit with a bullish undertone, as the average yield contracted by 1bp to 20.9%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-1bp) segments driven by demand for the 85DTM (-1bps), 120DTM (-2bps) and 344DTM (-2bps) bills, respectively. Similarly, the average yield contracted by 2bps to 26.8% in the OMO segment.
The FGN bond secondary market traded with bullish sentiments as the average yield contracted by 2bps to 18.7%. Across the benchmark curve, the average yield expanded at the short (+2bps) end following profit taking activities on the MAR-2027 (+7bps) bond but contracted at the mid (-3bps) and long (-3bps) segments, driven by buying interest in the APR-2032 (-11bps) and APR-2049 (-18bps) bonds, respectively.
