EQUITIES
The Nigerian stock market commenced the week on a positive note, underpinned by gains in FBNH (+3.4%). As a result, the benchmark index increased by 0.1% to 103,648.24 points, with the Year-to-Date returns settling at +0.7%.
The total trading volume increased by 20.7% to 855.97 million units, valued at NGN13.25 billion, and exchanged in 16,505 deals. CHAMS was the most traded stock by volume at 80.76 million units, while GTCO was the most traded stock by value at NGN3.07 billion.
Analysing by sectors, the Insurance (+4.1%) and Banking (+0.7%) indices gained, while the Consumer Goods (-0.4%), Industrial Goods (-0.1%), and Oil & Gas (-0.1%) indices declined.
As measured by market breadth, market sentiment was positive (2.5x), as 47 tickers gained relative to 19 losers. DAARCOMM (+10.0%) and HONYFLOUR (+10.0%) led the gainers, while CUTIX (-5.5%) and CAVERTON (-5.4%) recorded the highest losses of the day.
CURRENCY
The naira depreciated by 0.2% to NGN1,536.58/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 25bps to 27.0% in the absence of any significant inflows into the system.
Proceedings in the Treasury bills secondary market were bullish as the average yield declined by 5bps to 25.4%. Across the curve, the average yield declined at the short (-5bps), mid (-5bps), and long (-6bps) segments, driven by demand for the 80DTM (-5bps), 171DTM (-5bps), and 318DTM (-6bps) bills, respectively. Conversely, the average yield expanded by 36bps to 27.5% in the OMO segment.
The FGN bond secondary market was quiet as the average yield inched higher by 1bp to 19.4%. Across the benchmark curve, the average yield increased at the short (+2bps) end, driven by sell pressures on the JAN-2026 (+7bps) bond, but closed flat at the mid and long segments.
