EQUITIES
Activities in the domestic equities market kicked off the week on a positive note, underpinned by gains in ACCESSCORP (+9.9%), TRANSCOHOT (+5.5%), and ZENITHBANK (+4.7%). As a result, the All-Share Index advanced by 0.6% to close at 99,793.71 points. Accordingly, the Month-to-Date and Year-to-Date returns increased to +0.5% and +33.5%, respectively.
The total trading volume increased by 148.3% to 963.54 million units, valued at NGN13.50 billion, and exchanged in 8,657 deals. FIDELITYBK was the most traded stock by both volume and value at 605.26 million units and NGN6.03 billion, respectively.
From a sectoral perspective, the Oil & Gas (+3.1%), Banking (+2.7%), Insurance (+0.6%), and Consumer Goods (+0.3%) indices recorded gains, while the Industrial Goods (-0.1%) index settled lower.
As measured by market breadth, market sentiment was positive (2.9x), as 29 tickers gained relative to 10 losers. FLOURMILL (+10.0%) and TOTAL (+10.0%) recorded the most significant gains of the day, while ETRANZACT (-9.9%) and DAARCOMM (-9.5%) topped the losers’ list.
CURRENCY
The naira settled at NGN1,483.62/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 44bps to 31.1% in the absence of any significant funding pressure on the system.
Trading in the NTB secondary market was bullish, as the average yield contracted by 4bps to 22.0%. Across the curve, the average yield declined at the short (-3bps), mid (-3bps), and long (-5bps) segments as participants demanded the 17DTM (-4bps), 178DTM (-4bps), and 346DTM (-5bps) bills, respectively. Similarly, the average yield dipped by 6bps to 21.9% in the OMO segment.
Elsewhere, sentiments in the FGN bond secondary market was bearish, as the average yield expanded by 2bps to 18.6%. Across the benchmark curve, the average yield advanced at the short (+2bps) and mid (+7bps) segments due to the selloffs of the MAR-2025 (+6bps) and FEB-2031 (+12bps) bonds but remained unchanged in the long end.
