EQUITIES
The domestic bourse extended its bullish momentum as gains in ARADEL (+5.4%), OANDO (+2.9%), and ZENITHBANK (+1.6%) drove the All-Share Index higher by 0.4% to 100,477.46 points. Sequentially, the Month-to-Date and Year-to-Date returns settled higher at +3.1% and +34.4%, respectively.
The total volume of trades declined by 18.5% to 389.70 million units, valued at NGN9.20 billion, and exchanged in 9,573 deals. STERLINGNG was the most traded stock by volume at 43.56 million units, while ARADEL was the most traded stock by value at NGN1.54 billion.
Sectoral performance was broadly positive, as the Insurance (+3.2%), Banking (+0.7%), Oil & Gas (+0.3%), and Consumer Goods (+0.1%) indices settled higher, while the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (2.5x), as 42 tickers gained relative to 17 losers. MRS (+10.0%) and LEARNAFRICA (+10.0%) led the gainers, while AFRIPRUD (-10.0%) and JOHNHOLT (-10.0%) posted the most significant losses of the day.
CURRENCY
The naira depreciated by 2bps to NGN1,553.47/USD in the Nigerian Foreign Exchange Market (NFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 8bps to 32.7% despite debits from the FGN bond PMA (NGN263.21 billion).
The Treasury bills secondary market traded on a calm note, as the average yield remained unchanged at 25.6%. Across the curve, the average yield declined at the short (-2bps) and long (-2bps) ends following buying interests in the 85DTM (-2bps) and 337DTM (-2bps) bills, respectively, but expanded at the mid (+7bps) segment driven by the selloff of the 113DTM (+115bps) bill. Meanwhile, the average yield contracted by 5bps to 27.3% in the OMO segment.
Proceedings in the Treasury bond secondary market were quiet, as the average yield remained unchanged at 19.3%. Across the benchmark curve, the average yield pared at the short (+1bp) end, driven by sell pressures on the JAN-2026 (+2bp) bond, but contracted at the mid (-2bps) segment due to the demand of the FEB-2031 (-5bps) bond. The average yield remained unchanged at the long end.
