EQUITIES
The Nigerian equities market maintained its bullish trajectory, as buying interest in PRESCO (+6.2%), ETI (+3.6%), WAPCO (+0.7%), and UBA (+0.9%) lifted the All-Share Index by 0.1% to 160,806.56 points. Sequentially, the Year-to-Date return settled at +3.3%.
The total volume traded declined by 54.6% to 645.06 billion units, valued at NGN16.45 billion, and exchanged in 44,410 deals. CHAMS was the most traded stock by volume at 60.46 million units, while ZENITHBANK was the most traded stock by value at NGN1.51 billion.
Sectoral performance was mixed as the Consumer Goods (+0.6%) and Industrial Goods (+0.1%) indices advanced while the Insurance (-3.1%), Banking (-0.4%) and Oil & Gas (-0.1%) indices declined.
As measured by market breadth, market sentiment was negative (0.8x), as 40 tickers lost, while 31 tickers gained. INTENEGINS (-9.9%) and ABCTRANS (-9.9) recorded the most significant losses of the day, while NEIMETH (+10.0%) and MAYBAKER (+9.9%) led the gainers.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,417.26/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 8bps to 22.7% in the absence of funding pressures on the system.
The NTB secondary market traded with bearish sentiments, as the average yield expanded by 9bps to 17.8%. Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments driven by the demand for the 91DTM (-1bp) and 182DTM (-1bp) bills, respectively, but expanded at the long (+22bps) end due to profit-taking activities on the 343DTM (+184bps) bill. Similarly, the average yield expanded by 5bps to 21.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note as the average yield remained unchanged at 16.5%.
