EQUITIES
The Nigerian equities market traded with mixed sentiments, albeit with a bearish tilt, as sell pressures on ARADEL (-8.7%) outweighed gains in WAPCO (+10.0%). Consequently, the All-Share Index inched lower by 3bps to 97,702.56 points, with the Month-to-Date and Year-to-Date returns settling at +0.2% and +30.7%, respectively.
The total volume of trades increased by 159.1% to 1.16 billion units, valued at NGN27.36 billion, and exchanged in 9,403 deals. FBNH was the most traded stock by volume and value at 779.62 million units and NGN18.77 billion, respectively.
Across sectors, the Consumer Goods (-0.2%) and Oil & Gas (-0.1%) indices posted losses, while the Insurance (+2.9%), Industrial Goods (+1.0%) and Banking (+0.8%) indices recorded gains.
As measured by market breadth, market sentiment was positive (1.3x), as 28 tickers gained relative to 22 losers. GOLDBREW (+10.0%) and BETAGLAS (+10.0%) led the gainers, while SOVERENINS (-10.0%) and JOHNHOLT (-10.0%) recorded the most significant losses of the day.
CURRENCY
The naira remained stable at NGN1,672.69/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM) but appreciated by 1.1% to NGN1,655.74/USD in the Electronic Foreign Exchange Matching System (EFEMS).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 78bps to 27.1% in the absence of any significant inflows into the system.
Activities in the Treasury bills secondary market were bearish, as the average yield expanded by 30bps to 25.4%. Across the curve, the average yield expanded at the short (+31bps) and mid (+81bps) segments due to the selloffs of the 65DTM (+143bps) and 170DTM (+120bps) bills, respectively, but declined at the long (-2bps) end following buying interests in the 324DTM (-2bps) bill. In contrast, the average yield contracted by 2bps to 27.0% in the OMO segment.
Meanwhile, the Treasury bond secondary market traded on a calm note, as the average yield remained unchanged at 19.1%. Across the benchmark curve, the average yield expanded at the short (+1bp) end, driven by sell pressures on the JAN-2026 (+2bps) bond, but contracted at the mid (-2bps) following demand for the FEB-2031 (-5bps) bond. The average yield closed flat at the long end.
