EQUITIES
The domestic equities market opened the week on a negative note as selloffs in DANGCEM (-10.0%) and TRANSCORP (-4.7%) drove the All-Share Index lower by 1.3% to 145,159.77 points. Consequently, the Month-to-Date and Year-to-Date returns settled lower at -5.8% and +41.0%, respectively.
The total volume of trade declined by 92.1% to 388.18 million units, valued at NGN31.14 billion, and exchanged in 28,492 deals. TANTALIZER was the most traded stock by volume at 57.12 million units, while ARADEL was the most traded stock by value at NGN21.50 billion, respectively.
Sectoral performance was mixed as the Industrial Goods (-4.5%), Oil & Gas (-1.2%) and Banking (-1.0%) indices declined, while the Insurance (+0.1%) index advanced. The Consumer Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.1x), as 27 tickers gained relative to 24 losers. SOVRENINS (+10.0%) and NCR (+10.0%) led the gainers, while ENAMELWA (-10.0%) and DANGCEM (-10.0%) posted the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 0.5% to NGN1,442.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 24.9%.
Activities in the Treasury bills secondary market were bullish as the average yield contracted by 2bps to 16.4%. Across the curve, the average yield contracted at the short (-2bps), mid (-2bps) and long (-3bps) segments, driven by the demand for the 80DTM (-2bps), 171DTM (-2bps) and 353DTM (-3bps) bills, respectively. Conversely, the average yield expanded by 4bps to 21.8% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note, as the average yield contracted by 15bps to 15.4%. Across the benchmark curve, the average yield expanded at the short (+2bps) and mid (+2bps) segments, driven by profit-taking activities on the JAN-2026 (+33bps) and JUL-2034 (+17bps) bonds, respectively but contracted at the long (-38bps) end, following the demand for the APR-2049 (-44bps) bond.
