EQUITIES
The domestic bourse kicked off the week’s trading with bullish sentiments as the gains in OANDO (+9.8%) and UBA (+9.9%) outweighed the loss in BUACEMENT (-3.4%). As a result, the All-Share Index closed 0.1% higher to 98,558.79 points, with the Month-to-Date and Year-to-Date returns printing +2.1% and +31.8%, respectively.
The total volume traded increased significantly by 134.1% to 1.86 billion units, valued at NGN111.58 billion, and exchanged in 10,583 deals. GUINNESS was the most traded stock by volume and value at 1.27 billion units and NGN103.87 billion, respectively.
Sectoral performance was mixed as the Insurance (+2.1%) and Banking (+1.1%) indices advanced, while the Industrial Goods (-1.1%) and Consumer Goods (-0.1%) indices declined. The Oil & Gas index closed flat.
As measured by market breadth, market sentiment was positive (1.4x), as 31 tickers gained relative to 22 losers. NSLTECH (+10.0%) and AFRIPRUD (+10.0%) topped the gainers’ list, while ELLAHLAKES (-10.0%) and NEIMETH (-9.8%) recorded the highest losses of the day.
CURRENCY
The naira depreciated by 0.1% to NGN1,541.94/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 130bps to 28.7% in the absence of any significant inflows into the system.
Trading activities in the Treasury bills secondary market was quiet as the average yield closed flat at 21.9%. Across the curve, the average yield declined at the short (-3bps) and long (-4bps) ends due to demand for the 73DTM (-4bps) and 339DTM (-4bps) bills, respectively. Meanwhile the average yield increased at the mid (+9bps) segment due to selloffs of the 178DTM (+89bps) bill. Elsewhere, the average yield declined by 5bps to 23.6% in the OMO segment.
The Treasury bond secondary market traded with bearish sentiments, as the average yield expanded by 4bps to 18.6%. Across the benchmark curve, the average yield expanded at the short (+15bps) end due to profit-taking activities on the MAR-2025 (+69bps) bond but closed flat at the mid and long segments.
