EQUITIES
The domestic equities market traded with mixed sentiments, as losses in ZENITHBANK (-1.2%) and GTCO (-0.9%) offset the gains in DANSUGAR (+2.8%) and TRANSCORP (+2.5%). As a result, the All-Share index closed flat at 99,802.08 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at -0.3% and +33.5%, respectively.
The total trading volume increased by 121.2% to 935.15 million units, valued at NGN11.84 billion, and exchanged in 8,160 deals. FIDELITYBK was the most traded stock by volume and value at 698.21 million units and NGN7.27 billion, respectively.
On sectoral performance, the Banking (-0.4%) and Insurance (-0.2%) indices settled lower, while the Oil and Gas (+0.4%) and Consumer Goods (+0.3%) indices posted gains. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.2x), as 25 tickers gained relative to 21 losers. ABCTRANS (+10.0%) and ETERNA (+9.9%) topped the gainers’ list, while THOMASWY (-10.0%) and DAARCOMM (-8.8%) recorded the highest losses of the day.
CURRENCY
The naira depreciated by 1.9% to NGN1,561.98/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 21bps to 32.8%, in the absence of any significant outflows from the system.
Trading in the Nigerian Treasury bills market was bullish, as the average yield contracted by 3bps to 23.5%. Across the curve, the average yield declined at the short (-1bp), mid (-1bp), and long (-5bps) segments following interests in the 78DTM (-1bp), 169DTM (-1bp) and 316DTM (-41bps) bills, respectively. Similarly, the average yield dipped by 2bps to 24.3% in the OMO segment.
Activities in the Treasury bond market were bearish, as the average yield expanded by 24bps to 18.8%. Across the benchmark curve, the average yield increased at the short (+64bps) and mid (+35bps) segments driven by sell pressures on the MAR-2025 (+320bps) and JUN-2033 (+139bps) bonds, respectively. Conversely, the average yield closed flat at the long end.
