The local bourse closed on a bearish note in today’s session, as profit-taking activities in DANGCEM (-3.8%) and FBNH (-5.5%) weighed down the All-Share Index by 0.4% to 103,958.75 points. Consequently, the Year-to-Date return printed +1.0%.
The total volume traded increased by 4.6% to 542.23 million units, valued at NGN13.64 billion, and exchanged in 15,561 deals. ACCESSCORP was the most traded stock by volume at 43.99 million units, while ZENITHBANK was the most traded stock by value at NGN1.72 billion.
Across sectors, the Industrial Goods (-1.7%), Banking (-1.2%) and Consumer Goods (-0.3%) indices declined, while the Oil & Gas (+1.1%) index advanced. Meanwhile, the Insurance index closed flat.
As measured by market breadth, market sentiment was negative (0.9x), as 30 tickers lost relative to 28 gainers. SCOA (+10.0%) and OKOMUOIL (+10.0%) led the gainers, while MRS (-10.0%) and REDSTAREX (-9.9%) posted the most notable losses of the day.
CURRENCY
The naira appreciated by 0.7% to NGN1,522.68/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM)
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 17bps to 27.0% following inflows from OMO maturities (NGN317.66 billion)
Trading activities in the T-bills secondary market were quiet with a bearish tilt, as the average yield expanded by 1bp to 24.8%. Across the curve, the average yield contracted at the short (-2bps) and mid (-2bps) segments following the demand for the 86DTM (-2bps) and 177DTM (-2bps) bills, respectively but expanded at the long (+3bps) end due to the sell-off of the 310DTM (+72bps) bill. Conversely, the average yield contracted by 52bps to 27.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded with bearish sentiments as the average yield expanded by 2bps to 20.4%. Across the benchmark curve, the average yield declined at the short (-1bp) end due to buying interest on the JAN-26 (-7bps) bond but expanded at the mid (+7bps) segment following sell pressures on the JUL-2030 (+14bps) bond. The average yield remained unchanged at the long end.
