EQUITIES
The Nigerian equities market extended yesterday’s bullish sentiments following gains in BUACEMENT (+4.0%), WAPCO (+8.6%) and DANGSUGAR (+10.0%). Consequently, the All-Share Index advanced by 0.5% to 132,451.73 points with the Month-to-Date and Year-to-Date returns settling at +10.4% and +28.7%, respectively.
The total volume of trades declined by 9.3% to 771.65 million units, valued at NGN26.79 billion, and exchanged in 32,734 deals. ACCESSCORP was the most traded stock by volume at 102.88 million units, while WAPCO was the most traded stock by value at NGN3.87 billion.
Sectoral performance was broadly positive as the Industrial Goods (+2.9%), Consumer Goods (+0.5%), Insurance (+0.3%) and Banking (+0.1%) indices advanced while the Oil & Gas (-1.0%) index declined.
As measured by market breadth, market sentiment was positive (1.1x), as 35 tickers gained relative to 33 losers. DANGSUGAR (+10.0%) and SOVRENINS (+9.8%) led the gainers, while ELLAHLAKES (-10.0%) and LEGENDINT (-10.0%) recorded the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 1.1% to NGN1,537.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 8bps to 32.8%, following inflows from FGN bond coupon payment (NGN74.37 billion).
The NTB secondary market traded on a bullish note, as the average yield contracted by 5bps to 17.1%. Across the curve, the average yield contracted at the short (-1bp), mid (-5bps) and long (-6bps) segments, driven by the demand for the 79DTM (-1bp), 170DTM (-15bps). and 184DTM (-48bps) bills, respectively. Similarly, the average yield contracted by 1bp to 24.6% in the OMO segment.
The FGN bond secondary market traded on a bullish note, as the average yield contracted by 7bps to 16.2%. Across the benchmark curve, the average yield contracted at the short (-9bps), mid (-6bps) and long (-5bps) segments, driven by the demand for the JAN-2026 (-47bps), MAR-2035 (-13bps) and JUN-2053 (-30bps) bonds, respectively.
