EQUITIES
The domestic equities market reversed its seven-day bearish streak, as gains in MTNN (+10.0%), GTCO (+10.0%), ZENITHBANK (+10.0%) and TRANSCORP (+10.0%) drove the All-Share Index higher by 2.9% to 145,403.83 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at -5.7% and +41.3%, respectively.
The total volume traded advanced by 22.9% to 806.40 million units, valued at NGN50.78 billion, and exchanged in 24,509 deals. GTCO was the most traded stock by volume at 104.78 million units, while ARADEL was the most traded stock by value at NGN12.91 billion.
Sectoral performance was positive as the Banking (+7.4%), Insurance (+7.0%), Oil & Gas (+4.1%), Consumer Goods (+2.3%) and Industrial Goods (+0.4%) indices advanced.
As measured by market breadth, market sentiment was positive (5.6x), as 62 tickers gained relative to 11 losers. ROYALEX (+10.0%) and MANSARD (+10.0%) led the gainers, while VITAFOAM (-10.0%) and AUSTINLAZ (-10.0%) recorded the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 1.4% to NGN1,444.85/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 24.86%.
The NTB secondary market traded on a bullish note as the average yield contracted by 20bps to 17.0%. Across the curve, the average yield contracted at the short (-42bps), mid (-18bps) and long (-5bps) ends, driven by the demand for the 71DTM (-118bps), 176DTM (-41bps) 358DTM (-16bps) bills, respectively. Likewise, the average yield contracted by 9bps to 21.8% in the OMO segment.
Elsewhere, the FGN bond secondary market traded with a bullish tilt as the average yield contracted by 3bps to 15.6%. Across the benchmark curve, the average yield contracted at the short (-7bps) and mid (-3bps) segments, driven by the demand for the JAN-2026 (-27bps) and JUN-2033 (-16bps) bonds, respectively but remained unchanged at the long end.
