EQUITIES
The Nigerian equities market sustained its bullish momentum for the fourth consecutive trading session, driven by gains in TRANSCORP (+1.1%), ETI (+3.0%), and ZENITHBANK (+0.6%). As a result, the All Share Index (ASI) edged up by 0.1% to 105,430.15 points, bringing the Month-to-Date (MTD) and Year-to-Date (YTD) returns to +0.9% and +2.4%, respectively.
The total volume traded declined by 49.2% to 537.19 million units, valued at NGN23.03 billion, and exchanged in 15,450 deals. ACCESSCORP was the most traded stock by volume at 61.59 million units, while GEREGU was the most traded stock by value at NGN8.28 billion.
Sectoral performance was broadly positive, as the Insurance (+0.6%), Consumer Goods (+0.2%), Oil & Gas (+0.1%) and Banking (+0.1%) indices advanced, while the Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was positive (1.5x), as 33 tickers gained relative to 22 losers. ETERNA (+9.9%) and CADBURY (+9.9%) led the gainers, while TRIPPLEG (-9.7%) and GOLDBREW (-8.9%) posted the most significant losses of the day.
CURRENCY
The naira depreciated by 0.1% to NGN1,500.65/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 65bps to 32.7% in the absence of any significant funding pressure on the system.
Proceedings in the NTB secondary market were bullish, as the average yield contracted by 57bps to 22.6%. Across the curve, the average yield contracted at the short (-1bp), mid (-63bps) and long (-83bps) segments, driven by the demand for the 14DTM (-2bps), 105DTM (-173bps) and 301DTM (-211bps) bills, respectively. Similarly, the average yield declined by 22bps to 27.1% in the OMO segment.
The FGN bond secondary market traded on a bullish note, as the average yield declined by 6bps to 20.1%. Across the benchmark curve, the average yield declined at the short (-14bps) and mid (-10bps) segments due to buying interest in the JAN-2026 (-71bps) and FEB-2031 (-31bps) bonds, respectively, but remained unchanged at the long end.
