EQUITIES
The local bourse extended yesterday’s positive sentiments as buying interest in SEPLAT (+3.3%), UBA (+7.9%) and DANGSUGAR (+10.0%) pushed the benchmark index higher. As a result, the All-Share index advanced by 0.5% to close at 98,383.04 points. Sequentially, the Month-to-Date and Year-to-Date gains increased to +0.2% and +31.6%, respectively.
The total volume of trades improved by 52.5% to 559.61 million units, valued at NGN6.58 billion, and exchanged in 7,990 deals. ABBEYBDS was the most traded stock by volume at 277.53 million units, while SEPLAT was the most traded stock by value at NGN1.60 billion.
Performance across the sectors was broadly positive, as the Banking (+2.4%), Oil & Gas (+1.9%), Consumer Goods (+1.1%) and Insurance (+0.7%) indices advanced, while the Industrial Goods (-0.2%) index declined.
As measured by market breadth, market sentiment was positive (2.1x), as 27 tickers gained relative to 13 losers. DANGSUGAR (+10.0%) and NASCON (+9.9%) recorded the most significant gains of the day, while SOVRENINS (-9.5%) and UNIVINSURE (-8.3%) topped the losers’ list.
CURRENCY
The naira appreciated by 14.1% to NGN1,173.88/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 64bps to 32.1%, in the absence of any significant funding pressure on the system.
Proceedings in the T-bills secondary market remained bullish, as the average yield declined by 3bps to 21.7%. Across the curve, the average yield contracted at the short (-6bps), mid (-1bp) and long (-2bps) segments driven by investors’ interest in the 86DTM (-30bps), 177DTM (-1bp), 331DTM (-2bps) bills, respectively. Meanwhile, the average yield expanded by 71bps to 21.5% in the OMO segment.
Elsewhere, trading in the FGN bond secondary market was quiet, as the average yield was flat at 18.5%. Across the benchmark curve, the average yield increased slightly at the short (+1bp) end due to mild sell-offs of the MAR-2025 (+2bps) bond while it was unchanged at the mid and long segments.
Cordros
