EQUITIES
The benchmark index closed 0.2% higher in today’s session driven by demand for Banking tickers, including GTCO (+7.3%), ZENITHBANK (+7.5%), STERLINGNG (+6.7%) and FIDELITYBK (+1.3%), causing the NGX ASI to settle at 201,703.55 points. Consequently, the Month-to-Date and Year-to-Date returns advanced to +4.6% and +29.6%, respectively.
The total volume of trades declined by 8.1% to 815.48 million units, valued at NGN33.29billion, and exchanged in 52,641 deals. WEMABANK was the most traded stock by volume at 77.75 million units, while GTCO was the most traded stock by value at NGN8.97 billion.
On Sectors, the Banking (+3.2%) and Insurance (+0.2%) indices closed positive while the Consumer Goods (-1.6%) and Oil & Gas (-0.1%) indices pared. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.6x), as 22 tickers gained relative to 39 losers. UPDCREIT (+10.0%) and INTENEGINS (+9.9%) led the gainers, while OMATEK (-10.0%) and NESTLE (-10.0%) recorded the highest losses of the day.
CURRENCY
The official FX rate depreciated by 0.2% to NGN1,385.72/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 24bps to 22.3% following debits from the system.
Activities in the Treasury bill secondary market were muted, with the average yield unchanged at 17.7%. Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments due to demand for the 85DTM (-1bp) and 176DTM (-1bp) bills, respectively, while it closed flat at the long end. Elsewhere, the average yield contracted by 1bp to 20.4% in the OMO segment.
Similarly, The FGN bond secondary market traded on a quiet note as the average yield remained unchanged at 15.5%. Across the benchmark curve, the average yield contracted at the short (-1bp) end, following demand for the AUG-2030 (-4bps) bond, while it expanded at the mid (+1bp) segment, due to the sell pressures on the JUN-2033 (+9bps) bond. Meanwhile, it closed flat at the long end.
