EQUITIES
Profit-taking activities continued today in the Nigerian equities market, with TRANSCORP (-4.4%), FIDELITYBK (-7.0%), and DANGSUGAR (-5.9%) weighing down the bourse. Consequently, the All-Share Index declined by 0.4% to 109,183.02 points, with the Month-to-Date and Year-to-Date returns settling at +3.2% and +6.1%, respectively.
The total volume traded increased by 148.0% to 1.65 billion units, valued at NGN19.09 billion, and exchanged in 26,176 deals. ROYALEX was the most traded stock by volume at 903.59 million units, while FIDELITYBK was the most traded stock by value at NGN2.42 billion.
On sectors, the Insurance (-1.7%), Consumer Goods (-1.4%) and Banking (-1.1%) indices declined while the Oil & Gas and Industrial Goods indices closed flat.
As measured by market breadth, market sentiment was negative (-0.6x), as 22 tickers gained relative to 34 losers. CHELLARAM (-10.0%) and MAYBAKER (-10.0%) recorded the most significant losses of the day, while UHOMREIT (+10.0%) and REDSTAREX (+9.9%) led the gainers.
CURRENCY
The official FX rate appreciated by 0.6% to NGN1,587/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 6bps to 27.0% in the absence of any significant funding pressures on the system.
The NTB secondary market traded on a bullish note, as the average yield contracted by 7bps to 20.7%. Across the curve, the average yield contracted at the short (-5bps), mid (-17bps) and long (-2bps) segments, driven by demand for 91DTM (-31bps), 182DTM (-126bps) and 287DTM (-10bps) bills, respectively. Similarly, the average yield contracted by 7bps to 26.5% in the OMO segment.
The FGN bond secondary market traded with bullish sentiments as the average yield contracted by 5bps to 18.7%. Across the benchmark curve, the average yield contracted at the short (-16bps) and long (-1bp) ends, driven by buying interest in the JAN-2026 (-83bps) and JUN-2038 (-12bps) bonds, respectively. The average yield remained unchanged at the mid segment.
