EQUITIES
The bulls continued to dominate the domestic bourse, as gains in WAPCO (+6.0%), GTCO (+2.4%), TRANCORP (+3.0%) and ZENITHBANK (+3.0%) drove the All-Share Index higher by 0.3% to 121,989.67 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +1.7% and +18.5%, respectively.
The total volume of trades declined by 11.8% to 888.70 million units, valued at NGN15.61 billion, and exchanged in 24,303 deals. JAPAULGOLD was the most traded stock by volume at 137.34 million units, while ACCESSCORP was the most traded stock by value at NGN1.85 billion.
Analysing by sectors, the Insurance (+2.5%), Industrial Goods (+1.0%) and Banking (+0.5%) indices advanced, while the Consumer Goods (-0.1%) and Oil & Gas (-0.1%) indices declined.
As measured by market breadth, market sentiment was positive (2.7x), as 57 tickers gained relative to 21 losers. ENAMELWA (+10.0%) and CILEASING (+10.0%) led the gainers, while LEGENDINT (-8.1%) and GUINEAINS (-7.1%) recorded the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 0.1% to NGN1,531.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 109bp to 30.4%, in the absence of any significant funding pressure on the system.
The NTB secondary market traded on a bullish note, as the average yield contracted by 8bps to 19.4%. Across the curve, the average yield contracted at the short (-2bps), mid (-1bp) and long (-14bps) segments, driven by the demand for the 92DTM (-34bps), 162DTM (-2bps). and 239DTM (-162bps) bills, respectively. Conversely, the average yield expanded by 2bps to 25.1% in the OMO segment.
Elsewhere, the FGN bond secondary market was bullish, as the average yield contracted by 6bps to 16.9%. Across the benchmark curve, the average yield contracted at the short (-3bps) and mid (-18bps) segments, driven by demand for the JUL-2030 (-60bps) and FEB-2031 (-88bps) bonds, respectively. The average yield closed flat at the long end.
