EQUITIES
The local bourse kicked off the week on a bearish note as losses in MTNN (-2.1%), SEPLAT (-2.0%), and WAPCO (-4.9%) drove the All-share index lower by 0.4% to 108,261.47 points. Accordingly, the Month-to-Date and Year-to-Date returns moderated to +2.3% and +5.2%, respectively.
The total volume of trades declined by 9.7% to 414.57 million units, valued at NGN10.72 billion, and exchanged in 16,664 deals. TANTALIZER was the most traded stock by volume at 49.19 million units, while MTNN was the most traded stock by value at NGN4.38 billion.
Analysing by sectors, the Consumer Goods (-0.5%) and Banking (-0.2%) indices, declined while the Oil & Gas (+0.4%), Insurance (+0.3%) and Industrial Goods (+0.1%) indices advanced.
As measured by market breadth, market sentiment was positive (1.4x), as 36 tickers gained relative to 26 losers. ETRANZACT (-10.0%) and JOHNHOLT (-9.5%) led the losers, while MEYER (+10.0%) and MULTIVERSE (+10.0%) posted the most significant gains of the day.
CURRENCY
The official FX rate appreciated by 3bps to NGN1,610.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 45bps to 27.4% in the absence of any significant funding pressures on the system.
The Treasury bills secondary market traded on a bullish note, as the average yield contracted by 2bps to 21.0%. Across the curve, the average yield contracted at the short (-3bps) and mid (-3bps) segments, buoyed by the demand for the 10DTM (-4bps) and 178DTM (-3bps) bills, respectively, but closed flat at the long end. Similarly, the average yield contracted by 1bp to 26.9% in the OMO segment.
The FGN bond secondary market was quiet, as the average yield remained unchanged at 18.7%. Across the benchmark curve, the average yield contracted at the short (-1bp) end, driven by buying interest in the JAN-2026 (-9bps) bond, but closed flat at the mid and long segments.
