EQUITIES
Bullish sentiments persisted in the local bourse as gains in PRESCO (+6.5%), MTNN (+0.8%), and GTCO (+1.6%) caused a 0.2% increase in the benchmark index to 104,788.35 points. Consequently, the Month-to-Date returns and Year-to-Date returns settled at 0.3% and +1.8%, respectively.
The total trading volume decreased by 7.6% to 471.71 million units, valued at NGN19.89 billion, and exchanged in 14,600 deals. FBNH was the most traded stock by volume at 83.08 million units, while GEREGU was the most traded stock by value at NGN8.29 billion.
Sectoral performance was mixed as the Consumer Goods (+0.2%) and Industrial Goods (+0.1%) indices advanced, while the Insurance (-0.5%) index declined. The Banking and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was positive (1.8x), as 37 tickers gained relative to 21 losers. UNIVINSURE (+10.0%) and REDSTAREX (+10.0%) led the gainers, while IKEJAHOTEL (-9.6%) and NEM (-6.6%) recorded the highest losses of the day.
CURRENCY
The naira depreciated by 0.2% to NGN1,498.95/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 406bps to 28.6% in the absence of any significant inflows into the system.
The Treasury bills secondary market traded with bullish sentiments as the average yield declined by 12bps to 23.2%. Across the curve, the average yield declined at the short (-1bp), mid (-1bp), and long (-22bps) segments, driven by demand for the 16DTM (-2bps), 170DTM (-1bp), and 289DTM (-95bps) bills, respectively. Similarly, the average yield declined by 2bps to 27.4% in the OMO segment.
The FGN bond secondary market was bullish as the average yield declined by 2bps to 20.2%. Across the benchmark curve, the average yield decreased at the short (-5bps) and mid (-1bp) segments, driven by interest in the JAN-2026 (-26bps) and FEB-2031 (-3bps) bonds, respectively, while it closed flat at the long end.
