EQUITIES
The domestic bourse sustained its bearish momentum, as sell pressures on MTNN (-4.8%) drove the All-Share Index lower by 4bps to 98,023.23 points. As a result, the Month-to-Date and Year-to-Date returns printed -0.5% and +31.1%, respectively.
The total volume of trades declined by 7.6% to 368.80 million units, valued at NGN12.92 billion, and exchanged in 9,711 deals. JAIZBANK was the most traded stock by volume at 106.68 million units, while MTNN was the most traded stock by value at NGN5.39 billion.
Across sectors, the Insurance (-0.7%) and Consumer Goods (-0.1%) indices settled lower, while the Banking (+1.7%), Industrial Goods (+0.2%) and Oil & Gas (+0.2%) indices posted gains.
As measured by market breadth, market sentiment was positive (1.4x), as 31 tickers gained relative to 22 losers. UPL (+10.0%) and VITAFOAM (+10.0%) led the gainers, while PZ (-10.0%) and JAIZBANK (-10.0%) recorded the most notable losses of the day.
CURRENCY
The naira depreciated by 4bps to NGN1,631.17/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 195bps to 25.0% in the absence of any significant inflows into the system.
Activities in the T-bills secondary market were quiet but with a bullish undertone, as the average yield pared by 1bp to 24.1%. Across the curve, the average yield contracted at the short (-1bp), mid (-2bps), and long (-1bp) segments following buying interests in the 85DTM (-1bp), 176DTM (-2bps), and 330DTM (-2bps) bills, respectively. Similarly, the average yield declined by 2bps to 26.0% in the OMO segment.
Meanwhile, the Treasury bond secondary market traded with bearish sentiments, as the average yield expanded by 8bps to 19.1%. Across the benchmark curve, the average yield expanded at the short (+32bps) and mid (+1bp) segments driven by profit-taking activities on the MAR-2027 (+108bps) and JUL-2030 (+12bps) bonds, respectively, but declined at the long (-2bps) end due to interest in the APR-2049 (-9bps) bond.
Cordros
