EQUITIES
The Nigerian stock market commenced the week on a positive note as gains in TRANSCORP (+4.8%), GTCO (+3.1%), and MTNN (+1.4%) caused a 0.2% increase in the benchmark index to 101,365.15 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +4.0% and +35.6%, respectively.
The total trading volume decreased by 6.3% to 483.10 million units, valued at NGN15.84 billion, and exchanged in 12,197 deals. GTCO was the most traded stock by volume at 39.38 million units, while ARADEL was the most traded stock by value at NGN3.71 billion.
On sectors, the Insurance (+4.0%), Consumer Goods (+2.5%), and Banking (+2.2%) indices gained, while the Industrial Goods (-0.1%) and Oil & Gas (-0.1%) indices declined.
As measured by market breadth, market sentiment was positive (2.8x), as 53 tickers gained relative to 19 losers. LIVINGTRUST (+10.0%) and MRS (+10.0%) led the gainers, while AUSTINLAZ (-9.8%) and ARADEL (-9.6%) recorded the highest losses of the day.
CURRENCY
The NFEM rate was unchanged at NGN1,548.57/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 462bps to 32.8% in the absence of any significant inflows into the system.
Proceedings in the Treasury bills secondary market were bullish as the average yield declined by 5bps to 25.7%. Across the curve, the average yield declined at the short (-5bps), mid (-5bps), and long (-6bps) segments, driven by demand for the 73DTM (-6bps), 108DTM (-6bps), and 332DTM (-6bps) bills, respectively. Similarly, the average yield declined by 6bps to 27.2% in the OMO segment.
The FGN bond secondary market was quiet as the average yield inched higher by 1bp to 19.3%. Across the benchmark curve, the average yield increased at the short (+2bps) and mid (+2bps) segments, driven by sell pressures on the JAN-2026 (+6bps) and FEB-2031 (+4bps) bonds, respectively. The average yield closed flat at the long end.
