EQUITIES
Bullish sentiments returned to the local bourse, as buying interests in ZENITHBANK (+3.3%), FIRSTHOLDCO (+3.7%), and UBA (+2.6%) caused a 0.2% increase in the All-Share Index to 104,376.73 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -1.2% and +1.4%, respectively.
The total volume traded increased by 3.7% to 460.57 million units, valued at NGN10.11 billion, and exchanged in 14,528 deals. ACCESSCORP was the most traded stock by volume at 56.50 million units, while GTCO was the most traded stock by value at NGN3.43 billion.
Analysing by sectors, the Insurance (-4.1%), Consumer Goods (-0.2%), and Industrial Goods (-0.1%) indices declined, while the Banking (+1.9%) index gained. The Oil & Gas index remained unchanged.
As measured by market breadth, market sentiment was negative (0.4x), as 41 tickers lost relative to 16 gainers. UHOMREIT (-10.0%) and NAHCO (-9.9%) led the losers, while NSLTECH (+8.9%) and ABBEYBDS (+8.4%) recorded the most significant gains of the day.
CURRENCY
The official FX rate appreciated by 1.1% to NGN1,613.75/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 1bp to 26.9% in the absence of any significant funding pressure on the system.
The Treasury bills secondary market traded with bearish sentiments, as the average yield expanded by 67bps to 20.6%. Across the curve, the average yield expanded at the short (+9bps), mid (+53bps) and long (+153bps) segments, driven by selloffs of the 58DTM (+40bps), 156DTM (+164bps) and 247DTM (+262bps) bills, respectively. Similarly, the average yield expanded by 501bps to 29.3% in the OMO segment.
Proceedings in the FGN bond secondary market were bearish as the average yield expanded by 3bps to 18.5%. Across the benchmark curve, the average yield expanded at the short (+16bps) end, driven by sell pressures on the JAN-2026 (+81bps) bond, while it contracted at the long (-4bps) end, driven by demand for MAR-2050 (-35bps) bond. The average yield closed flat at the mid segment.
