EQUITIES
The local bourse increased marginally by 2bps to 147,741.77 points driven by gains in TRANSCORP (+4.2%) and STANBIC (+1.6%). Accordingly, the Month-to-Date and Year-to-Date steadied at +3.5% and +43.5%, respectively.
The total volume traded declined by 21.4% to 389.11 million units, valued at NGN12.48 billion and exchanged in 23,017 deals. FIDELITYBK was the most traded stock by volume at 46.87 million units, while ZENITHBANK was the most traded stock by value at NGN1.42 billion.
By sectors, the Consumer Goods (+0.1%), Industrial Goods (+0.1%), and Oil & Gas (+0.1%) indices advanced, while the Banking (-0.2%) and Insurance Indices (-0.1%) declined.
As measured by market breadth, market sentiment was positive (1.1x), as 31 tickers gained relative to 27 losers. ROYALEX (+7.4%) and INTENGINS (+6.1%) topped the gainers’ list, while TRIPPLEG (-9.9%) and IMG (-9.9%) led the losers.
CURRENCY
The official FX rate depreciated by 0.4% to NGN1,466.50/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 2bps to 24.9% amid the lack of significant inflows into the system.
The NTB secondary market traded on a calm note albeit with a bullish undertone, as the average yield contracted by 1bp to 17.4%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-1bp) segments, driven by demand for the 75DTM (-1bp), 155DTM (-1bp) and 358DTM (-12bps) bills, respectively. Conversely, the average yield expanded by 4bps to 20.5% in the OMO segment.
Meanwhile, the FGN bond secondary market was bullish, as the average yield contracted by 3bps to 15.9%. Across the benchmark curve, the average yield contracted at the short (-1bp) and mid (-12bps) segments, following demand for the FEB-2031(-4bps) and APR-2032 (-23bps) bonds, respectively, while it closed flat at the long end.
