EQUITIES
The domestic bourse closed on a bullish note with the All-Share Index advancing by 0.4% to close at 242,729.52 points, as gains in AIRTELAFRI (+10.0%), DANGSUGAR (+8.4%), and FIRSTHOLDCO (+1.6%) offset sell pressures in MTNN (-4.3%), GUINNESS (-10.0%) and UBA (-2.4%). Consequently, the Month-to-Date and Year-to-Date returns settled higher at +0.2% and +56.0%, respectively.
The total volume traded rose by 41.1% to 1.41 billion units, valued at NGN59.43 billion, and exchanged in 85,804 deals. CWG was the most traded stock by volume and value at 421.70 million units and NGN8.85 billion respectively.
On Sectors, the Insurance (+0.6%), Banking (+0.5%), Consumer Goods (+0.3%) and Industrial Goods (+0.1%) indices advanced while the Oil and Gas index closed flat.
As measured by market breadth, market sentiment was positive (2.1x), as 47 tickers gained relative to 22 losers. AIRTELAFRI (+10.0%) and CAP (+10.0%) led the gainers, while SUNASSUR (-10.0%) and GUINNESS (-10.0%) recorded the highest losses of the day.
CURRENCY
The official FX rate depreciated by 0.5% to NGN1,369.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 4bps to 22.2% in the absence of any significant inflows into the system.
The NTB secondary market was quiet with a bullish tilt as the average yield contracted by 1bp to 17.5%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-1bp) segments due to demand for the 92DTM (-1bp), 183DTM(-1bp) and 351DTM(-1bp) bills, respectively. Similarly, the average yield contracted by 7bps to 21.0% in the OMO segment.
Elsewhere, The FGN bond secondary market traded on a bearish note as the average yield expanded by 1bp to 15.7%. Across the benchmark curve, the average yield expanded at the short (+2bps) and mid (+1bp) segments due to selloffs on the AUG-2030 (+14bps) and APR-2032 (+5bps) bonds, respectively, while the average yield at the long end closed flat.
