EQUITIES
The domestic bourse sustained its bullish momentum, as gains in DANGCEM (+2.3%), FIRSTHOLDCO (+8.8%), and GTCO (+2.1%) drove the All-Share Index higher by 0.4% to 112,427.48 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +0.6% and +9.2%, respectively.
The total volume traded increased by 20.2% to 622.64 million units, valued at NGN16.12 billion, and exchanged in 17,044 deals. FIDELITYBK was the most traded stock by volume at 108.17 million units, while GTCO was the most traded stock by value at NGN2.80 billion.
On sectors, the Banking (+1.4%), Consumer Goods (+1.1%), Industrial Goods (+1.0%) and Insurance (+0.8%) indices advanced, while the Oil & Gas (-0.2%) index declined.
As measured by market breadth, market sentiment was positive (1.1x), as 34 tickers gained relative to 31 losers. HONYFLOUR (+10.0%) and SCOA (+10.0%) led the gainers, while CONOIL (-10.0%) and LEARNAFRCA (-10.0%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.2% to NGN1,581.96/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 2bps to 26.9% in the absence of any significant inflows into the system.
Proceedings in the NTB secondary market was quiet, as the average yield remained unchanged at 20.7%.
Across the curve, the average yield contracted at the short (-1bp) and long (-1bp) ends, driven by the demand for the 79DTM (-1bp) and 289DTM (-2bps) bills, respectively, but expanded at the mid (+2bps) segment, following profit taking activities on the 170DTM (+22bps) bill. Meanwhile, the average yield contracted by 2bps to 26.0% in the OMO segment.
The Treasury bond secondary market was quiet, as the average yield closed flat at 18.5%.
