EQUITIES
The Nigerian equities market ended today’s session on a positive note as gains in ARADEL (+10.0%) and OANDO (+7.0%) drove the All-Share index higher by 0.4% to 96,924.86 points. Consequently, the Month-to-Date and Year-to-Date returns printed -0.7% and +29.6%, respectively.
The total trading volume increased by 78.0% to 744.54 million units, valued at NGN16.48 billion, and exchanged in 9,700 deals. JAPAULGOLD was the most traded stock by volume at 105.93 million units, while JBERGER was the most traded stock by value at NGN4.55 billion.
On sectoral performance, the Insurance (+1.8%) and Oil & Gas (+1.8%) indices advanced, while the Banking (-0.4%) index declined. The Industrial Goods and Consumer Goods indices closed flat.
As measured by market breadth, market sentiment was positive (1.7x), as 29 tickers gained relative to 17 losers. CONOIL (+10.0%) and ARADEL (+10.0%) topped the gainers’ list, while TANTALIZER (-6.3%) and NGXGROUP (-5.8%) recorded the highest losses of the day.
CURRENCY
The naira appreciated by 2.6% to NGN1,639.50/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate was unchanged at 32.5% despite debits for the net NTB issuance (NGN93.05 billion).
The Treasury bills secondary market traded with bullish sentiments, as the average yield contracted by 2bps to 24.0%. Across the curve, the average yield declined at the short (-1bp), mid (-4bps), and long (-2bps) segments, driven by interest in the 77DTM (-1bp), 154DTM (-21bps), and 350DTM (-2bps) bills, respectively. Similarly, the average yield pared by 2bps to 26.4% in the OMO segment.
Sentiments remained cautious in the FGN bond secondary market, with the average yield unchanged at 19.1%. Across the benchmark curve, the average yield contracted at the short (-13bps) end, driven by demand for the APR-2029 (-67bps) bond, while the average yield expanded at the mid (+12bps) segment following sell pressures on the FEB-2031 (+44bps) bond. The average yield closed flat at the long end.
