EQUITIES
The domestic bourse sustained the previous session’s gains following demand for FBNH (+4.6%), GTCO (+2.6%), STANBIC (+4.4%) and WAPCO (+4.3%). Consequently, the NGX ASI advanced by 0.2% to close at 100,299.48 points. Accordingly, the Month-to-Date and Year-to-Date returns increased to +0.2% and +34.1%, respectively.
The total volume of trades declined by 6.4% to 342.20 million units, valued at NGN4.75 billion, and exchanged in 7,592 deals. FIDELITYBK was the most traded stock by volume and value at 137.64 million units and NGN1.42 billion, respectively.
On sectors, the Insurance (+2.7%), Banking (+1.7%) and Industrial Goods (+0.2%) indices posted gains, while the Consumer Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was positive (1.5x), as 28 tickers gained relative to 19 losers. CORNERST (+9.6%) and RTBRISCOE (+9.4%) topped the gainers’ list, while UPL (-10.0%) and DAARCOMM (-5.9%) recorded the highest losses of the day.
CURRENCY
The naira depreciated by 21bps to NGN1,512.61/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 36bps to 32.3% in the absence of any significant outflows from the system.
The Treasury bills secondary market closed on a bearish note, as the average yield expanded by 16bps to 22.2%. Across the curve, the average yield pared at the short (-1bp) and mid (-1bp) segments, driven by mild interest in the 85DTM (-1bp) and 176DTM (-1bp) bills, respectively. Meanwhile, the average yield expanded at the long (+39bps) end due to profit-taking activities on the 295DTM (+77bps) bill. Conversely, the average yield contracted by 2bps to 23.4% in the OMO segment.
Activities in the FGN bond secondary market remained calm, as the average yield closed flat at 18.6%. Across the benchmark curve, the average yield increased at the short (+1bp) end, as investors sold off the MAR-2025 (+2bps) bond but was unchanged at the mid and long segments.
