EQUITIES
Bullish sentiments persisted in the domestic bourse, as gains in ZENITHBANK (+3.2%) and GTCO (+1.4%) caused a 4bps increase in the benchmark index to 105,593.28 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -2.1% and +2.6%, respectively.
The total trading volume decreased by 20.7% to 349.33 million units, valued at NGN15.06 billion, and exchanged in 12,450 deals. ACCESSCORP was the most traded stock by volume at 36.60 million units, while GEREGU was the most traded stock by value at NGN8.22 billion, respectively.
Analysing by sectors, the Insurance (+2.0%) and Banking (+1.3%) indices advanced, while the Oil & Gas (-1.7%) and Consumer Goods (-0.1%) indices declined. The Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was positive (1.3x), as 28 tickers gained relative to 21 losers. MAYBAKER (+10.0%) and MBENEFIT (+9.6%) led the gainers, while ETERNA (-9.2%) and ROYALEX (-8.0%) recorded the highest losses of the day.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,530.49/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate decreased by 450bps to 28.3% in the absence of any significant inflows into the system.
The Treasury bills secondary market was quiet, albeit with a bullish tilt, as the average yield decreased by 1bp to 19.2%. Across the curve, the average yield declined at the short (-1bp), mid (-1bp), and long (-1bp) segments, driven by demand for the 72DTM (-1bp), 170DTM (-1bp), and 331DTM (-2bps) bills, respectively. Conversely, the average yield expanded by 9bps to 22.6% in the OMO segment.
Proceedings in the FGN bond secondary market were bearish as the average yield increased by 3bps to 18.5%.
Across the benchmark curve, the average yield decreased at the short (-21bps) and mid (-3bps) segments, following demand for the MAR-2027 (-44bps) and FEB-2031 (-13bps) bonds, respectively, while it increased at the long (+20bps) end driven by selloffs of the MAR-2036 (+48bps) bond.
