EQUITIES
The local bourse extended yesterday’s bullish performance following investors’ interest in FBNH (+9.9%). Thus, the All-Share Index gained 0.2% to close at 98,568.59 points. As a result, the Month-to-Date and Year-to-Date returns increased to +2.1% and +31.8%, respectively.
The total volume of trades declined by 5.9% to 763.00 million units, valued at NGN11.78 billion, and exchanged in 12,081 deals. FIDELITYBK was the most traded stock by volume and value at 126.09 million units and NGN2.01 billion, respectively.
On sectors, the Banking (+3.0%), and Insurance (+2.2%) indices advanced, while the Consumer Goods (-0.3%) and Oil & Gas (-0.1%) indices declined. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.7x), as 35 tickers gained relative to 21 losers. NIDF (+9.9%) and FBNH (+9.9%) recorded the highest gains of the day, while OANDO (-10.0%) and OKOMUOIL (-10.0%) topped the losers’ list.
CURRENCY
The naira depreciated by 5.8% to NGN1,658.48/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 8bps to 20.9% in the absence of any significant funding pressure on the system.
Activities in the NTB secondary market were mixed, albeit with a bullish undertone as the average yield pared by 1bp to 20.7%. Across the curve, the average yield contracted at short (-1bp), mid (-1bp) and long (-1bp) segments following buying interests in the 79DTM (-1bp),170DTM (-1bp) and 345DTM (-1bp) bills, respectively. Meanwhile, the average yield expanded by 5bps to 23.7% in the OMO segment.
The Treasury bond secondary market closed on a bullish note, as the average yield contracted by 2bps to 18.5%. Across the benchmark curve, the average yield contracted at the short (-8bps) end driven by buying interests on the MAR-2027 (-40bps) bond but was unchanged at the mid and long segments.
