EQUITIES
Profit-taking activities continued today in the Nigerian equities market, as sell pressures on DANGCEM (-10.0%) weighed down the All-Share Index by 1.5% to 102,095.95. As a result, the Year-to-Date return settled at -0.8%.
The total volume traded declined by 14.3% to 431.30 million units, valued at NGN9.26 billion, and exchanged in 11,908 deals. UNIVINSURE was the most traded stock by volume at 70.31 million units, while BUAFOODS was the most traded stock by value at NGN2.52 billion.
Sectoral performance was mixed as the Industrial Goods (-4.7%) and Insurance (-3.5%) indices declined, while the Consumer Goods (+1.0%) and Oil & Gas (+0.2%) indices advanced. The Banking index closed flat.
As measured by market breadth, market sentiment was negative (0.7x), as 38 tickers lost relative to 28 gainers. DANGCEM (-10.0%) and UNIVINSURE (-10.0%) led the losers, while DANGSUGAR (+10.0%) and SUNUASSUR (+10.0%) posted the highest gains of the day.
CURRENCY
The naira depreciated by 0.1% to NGN1,551.10/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 42bps to 32.7% in the absence of any significant funding pressure on the system.
Trading in the Treasury bills secondary market was bullish, as the average yield contracted 12bps to 25.2%. Across the curve, the average yield contracted at the short (-21bps), mid (-2bps) and long (-11bps) segments due to demand for the 72DTM (-139bps), 177DTM (-2bps) and 331DTM (-48bps) bills, respectively. Elsewhere, the average yield remained unchanged at 28.4% in the OMO segment.
Activities in the FGN bond secondary market were bearish as the average yield expanded by 5bps to 19.6%. Across the benchmark curve, the average yield increased at the short (+19bps) and mid (+1bp) segments, driven by sell pressures on the JAN-2026 (+92bps) and FEB-2031(+4bps) bonds, respectively, but closed flat at the long end.
