EQUITIES
The local bourse extended yesterday’s gains as buying interest in DANGCEM (+3.9%) and TRANSCOHOT (+10.0%) caused a 1.2% increase in the benchmark index to 107,822.51 points. Consequently, the Month-to-Date returns and Year-to-Date returns settled higher at 3.2% and +4.8%, respectively.
The total trading volume decreased by 7.5% to 442.62 million units, valued at NGN9.95 billion, and exchanged in 15,376 deals. STERLINGNG was the most traded stock by volume at 49.61 million units, while ZENITHBANK was the most traded stock by value at NGN1.31 billion.
Analysing by sectors, the Industrial Goods (+2.1%), Consumer Goods (+1.4%), Banking (+0.5%), and Oil & Gas (+0.2%) indices advanced, while the Insurance index closed flat.
As measured by market breadth, market sentiment was positive (3.0x), as 48 tickers gained relative to 16 losers. IKEJAHOTEL (+10.0%) and VFDGROUP (+10.0%) led the gainers, while CWG (-9.0%) and REGALINS (-7.9%) recorded the highest losses of the day.
CURRENCY
The official FX rate depreciated by 0.4% to NGN1,511.63/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 11bps to 32.8% in the absence of any significant inflows into the system.
The Treasury bills secondary market traded with bullish sentiments as the average yield declined by 20bps to 22.2%. Across the curve, the average yield declined at the short (-28bps), mid (-11bps), and long (-19bps) segments, driven by demand for the 71DTM (-92bps), 176DTM (-61bps), and 281DTM (-140bps) bills, respectively. Similarly, the average yield declined by 28bps to 26.6% in the OMO segment.
The FGN bond secondary market was bullish as the average yield declined by 3bps to 20.0%. Across the benchmark curve, the average yield decreased at the short (-7bps) and long (-3bps) ends, driven by interest in the JAN-2026 (-43bps) and JUN-2053 (-23bps) bonds, respectively, while it closed flat at the mid segment.
