EQUITIES
The Nigerian equities market showed limited movement in today’s session, as gains in BUACEMENT (+0.6%) and INTBREW (+3.6%) were offset by losses in UBA (-1.2%) and NB (-2.0%). Consequently, the All-Share Index closed flat at 147,710.96 points, with the Month-to-Date and Year-to-Date returns holding firm at +3.5% and +43.5%, respectively.
The total volume traded declined by 20.7% to 495.10 million units, valued at NGN17.34 billion and exchanged in 25,645 deals. FIDELITYBK was the most traded stock by volume at 50.90 million units, while MTNN was the most traded stock by value at NGN2.46 billion.
Sectoral performance was mixed as the Insurance (+1.0%), Industrial Goods (+0.3%), and Consumer Goods (+0.1%) indices advanced, while the Banking (-0.4%) and Oil & Gas (-0.1%) declined.
As measured by market breadth, market sentiment was negative (0.6x), as 35 tickers lost relative to 22 gainers. AUSTINLAZ (-7.9%) and DEAPCAP (-6.7%) led the laggards, while REGALINS (+8.8%) and PRESTIGE (+6.7%) posted the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 0.3% to NGN1,460.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 3bps to 24.9% in the absence of any significant inflows into the system.
The NTB secondary market traded on a quiet note, as the average yield closed flat at 17.4%. Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments, driven by the demand for the 72DTM (-1bp) and 177DTM (-1bp) bills, respectively, but remained unchanged at the long end. Conversely, the average yield expanded by 3bps to 20.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bearish note, as the average yield expanded by 2bps to 15.9%.
Across the benchmark curve, the average yield expanded at the mid (+10bps) segment, due to profit taking activities on the JUN-2033 (+20bps) bond but closed flat at the short and long ends.
