EQUITIES
Profit-taking activities continued today in the Nigerian equities market, with BUACEMENT (-10.0%) and MTNN (-2.3%) weighing down the bourse by 0.9% to 140,332.44 points. Thus, the Month-to-Date and Year-to-Date returns settled at +0.3% and +36.4%, respectively.
The total volume traded declined by 20.5% to 573.7 million units, valued at NGN12.88 billion, and exchanged in 25,881 deals. FIDELITYBK was the most traded stock by volume and value at 96.07 million units and NGN1.99 billion, respectively.
Sectoral performance was broadly negative as the Insurance (-4.7%), Industrial Goods (-4.0%) and Oil & Gas (-0.1%) indices declined, while the Banking (+0.5%) index advanced. The Consumer Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.3x), as 15 tickers gained relative to 43 losers. THOMASWY (-10.0%) and UPL (-10.0%) recorded the most significant losses of the day, while NSLTECH (+9.4%) and OMATEK (+5.9%) led the gainers.
CURRENCY
The official FX rate appreciated by 3bps to NGN1,535.50/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 27.0%, closing at a net long position (NGN390.89 billion).
The NTB secondary market traded on a quiet note, albeit with a bullish tilt as the average yield contracted by 1bp to 18.1%. Across the curve, the average yield contracted at the short (-1bp) and mid (-2bps) segments, driven by the demand for the 91DTM (-1bp) and 182DTM (-9bps) bills, respectively, but remained unchanged at the long end. Similarly, the average yield contracted by 2bps to 24.8% in the OMO segment.
The Treasury bond secondary market traded on a calm note with a bearish undertone, as the average yield expanded by 1bp to 16.5%. Across the benchmark curve, the average yield contracted at the short (-1bp) end, driven by the demand for the JAN-2026 (-7bps) bond, but expanded at the mid (+5bps) segment due to the profit-taking activities on the FEB-2031 (+16bps) bond. The average yield remained unchanged at the long end.
