EQUITIES
The domestic bourse started the week on a negative note as sell pressures on MTNN (-2.7%) triggered a 0.1% decline in the NGX ASI to 99,840.95 points. As a result, the Month-to-Date and Year-to-Date returns moderated to +0.5% and +33.5%, respectively.
The total volume traded surged by 334.9% to 1.38 billion units, valued at NGN16.48 billion, and exchanged in 9,899 deals. FIDELITYBK was the most traded stock by volume and value at 1.05 billion units and NGN11.32 billion, respectively.
Performance across the sectors was mixed, as the Banking (+0.5%) and Oil and Gas (+0.1%) indices advanced, while the Insurance (-0.1%) and Consumer Goods (-0.1%) indices declined. The Industrial goods index closed flat.
As measured by market breadth, market sentiment was positive (2.6x), as 39 tickers gained relative to 15 losers. Topping the gainers’ list were UPL (+10.0%) and GUINNESS (+10.0%), while CAVERTON (-9.6%) and ABCTRANS (-9.5%) recorded the highest losses of the day.
CURRENCY
The naira closed flat at NGN1,483.02/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET AND FIXED INCOME
The overnight lending rate expanded by 89bps to 27.1%, in the absence of any significant funding pressure on the system.
The Treasury bills secondary market traded with bullish sentiments as the average yield contracted by 7bps to 21.8%. Across the curve, the average yield dipped at the short (-5bps), mid (-6bps) and long (-8bps) segments driven by buying interest in the 8DTM (-6bps), 176DTM (-6bps) and 337DTM (-9bps) bills, respectively. Likewise, the average yield declined by 7bps to 21.7% in the OMO segment.
Activities in the Treasury bond secondary market was mostly calm as the average yield increased slightly by 1bp to 18.6%. Across the benchmark curve, the average yield expanded at the short (+4bps) end as investors sold off the MAR-2025 (+11bps) bond but was unchanged at the mid and long segments.
