EQUITIES
The local bourse ended today’s session on a positive note as gains in DANGCEM (+4.5%) and MTNN (+3.2%) drove the All-Share Index higher by 0.6% to 114,659.11 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at +2.6% and +11.4%, respectively.
The total volume of trades declined by 27.8% to 471.15 million units, valued at NGN14.19 billion, and exchanged in 20,538 deals. FCMB was the most traded stock by volume at 40.29 million units, while SEPLAT was the most traded stock by value at NGN1.62 billion.
Sectoral performance was negative, as the Consumer Goods (-1.4%), Industrial Goods (-1.0%), Banking (-0.5%) and Insurance (-0.4%) indices declined while the Oil & Gas (+0.7%) index was the sole gainer of the day.
As measured by market breadth, market sentiment was positive (1.1x), as 30 tickers gained relative to 28 losers. ABCTRANS (+10.0%) and BETAGLAS (+10.0%) led the gainers, while ABBEYBDS (-7.5%) and NCR (-7.1%) posted the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 0.2% to NGN1,543.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate was unchanged at 27.0% as the average system liquidity settled at a net long position of NGN881.65 billion.
Proceedings in the Treasury bill secondary market were bullish, as the average yield contracted by 21bps to 20.6%. Across the curve, the average yield contracted at the short (-5bps), mid (-16bps) and long (-21bps) segments, driven by demand for the 85DTM (-97bps), 176DTM (-79bps) and 183DTM (-75bps) bills, respectively. Conversely, the average yield expanded by 11bps to 25.9% in the OMO segment.
The FGN bond secondary market traded on a quiet note, as the average yield closed flat at 18.5%.
