EQUITIES
The domestic stock market traded marginally higher as buying interest in WAPCO (+9.5%) offset sell pressures on ACCESSCORP (-3.0%) and TRANSCORP (-1.4%). Thus, the benchmark index advanced by 3bps to 97,747.27 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at +0.1% and +30.7%, respectively.
The total trading volume increased by 40.0% to 413.35 million units, valued at NGN5.34 billion, and exchanged in 9,004 deals. JAPAULGOLD was the most traded stock by volume at 179.10 million units, while ACCESSCORP was the most traded stock by value at NGN775.55 million.
On sectoral performance, the Industrial Goods (+0.7%) and Insurance (+0.4%) indices advanced, while the Banking (-0.6%), Consumer Goods (-0.3%), and Oil & Gas (-0.1%) indices declined.
As measured by market breadth, market sentiment was positive (1.4x), as 27 tickers gained relative to 17 losers. JOHNHOLT (+10.0%) and BETAGLAS (+9.9%) led the gainers, while MECURE (-9.7%) and THOMASWY (-8.9%) recorded the most significant losses of the day.
CURRENCY
The naira depreciated by 2.3% to NGN1,690.37/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 119bps to 25.7%, following inflows from FGN bond coupon (NGN537.37 million).
Proceedings in the Treasury bills secondary market were bullish, as the average yield declined by 5bps to 24.1%. Across the curve, the average yield declined at the short (-4bps), mid (-5bps), and long (-5bps) segments following demand for the 80DTM (-5bps), 171DTM (-5bps) and 290DTM (-6bps) bills, respectively. Similarly, the average yield declined by 3bps to 26.4% in the OMO segment.
Elsewhere, the Treasury bond secondary market traded on a calm note as investors awaited the results of the bond auction. As a result, the average yield inched higher by 1bp to 19.2%. Across the benchmark curve, the average yield increased at the short (+4bps) end, driven by sell pressures on the MAR-2025 (+14bps) bond. The average yield closed flat at the mid and long segments.
