EQUITIES
The domestic equities market extended its bullish run, closing higher for the 11th consecutive session as risk-on sentiment remained dominant. Precisely, gains in MTNN (+10.0%), DANGCEM (+10.0%), BUACEMENT (+5.7%), ARADEL (+10.0%), GTCO (+7.1%), ZENITH (+10.0%) and WAPCO (+5.0%) lifted the All-Share Index by 4.4% to 190,281.57 points, marking its strongest daily return since 23 May 2023. As a result, the Month-to-Date and Year-to-Date returns improved to +15.1% and +22.3%, respectively.
The total volume traded increased by 1.3% to 1.08 million units, valued at NGN64.03 billion, and exchanged in 64,821 deals. ACCESSCORP was the most traded stock by volume at 86.72 million units, while ARADEL was the most traded stock by value at NGN11.02 billion.
Sectoral performance was broadly positive as the Industrial Goods (+7.8%), Oil & Gas (+4.7%), Banking (+4.7%), Insurance (+2.5%), and Consumer Goods (+1.4%) indices all closed higher.
As measured by market breadth, market sentiment was positive (2.2x), as 56 tickers gained relative to 26 losers. ARADEL (+10.0%) and MCNICHOLS (+10.0%) led the gainers, while RTBRISCOE (-10.0%) and DEAPCAP (-9.9%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 1.2% to NGN1,343.90/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 22.8% in the absence of any significant inflows into the system.
The NTB secondary market traded on a bullish note, as the average yield contracted by 2bps to 17.5%. Across the curve, the average yield contracted at the short (-2bps), mid (-2bps) and long (-2bps) segments, driven by the demand for the 31DTM (-3bps), 157DTM (-3bps) and 353DTM(-25bps) bills, respectively. Similarly, the average yield contracted by 6bps to 21.1% at the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bearish note, as the average yield expanded by 3bps to 16.0%.
Across the benchmark curve, the average yield expanded at the short (+5bps) and mid (+9bps) segments, due to profit-taking activities on the FEB-2031 (+10bps) and APR-2032 (+24bps) bonds, respectively, but closed flat at the long end.
