EQUITIES
Trading in the domestic bourse kicked off the week on a positive note as buying interest in FIDELITYBK (+10.0%), UBA (+2.4%), and DANGSUGAR (+5.9%) drove the All-Share Index higher by 0.2% to 97,706.70 points. Thus, the month-to-date and Year-to-Date returns printed -0.9% and +30.7%, respectively.
The total volume traded increased significantly by 308.1% to 1.31 billion units, valued at NGN5.96 billion, and exchanged in 10,424 deals. TANTALIZER was the most traded stock by volume at 1.00 billion units, while UBA was the most traded stock by value at NGN1.06 billion.
On Sectors, the Banking (+0.8%), Consumer Goods (+0.4%) and Oil & Gas (+0.2%) indices gained, while the Insurance (-0.5%) and Industrial Goods (-0.1%) indices posted losses.
As measured by market breadth, market sentiment was positive (1.2x), as 28 tickers gained relative to 23 losers. FIDELITYBK (+10.0%) and ABCTRANS (+9.8%) topped the gainers’ list, while SCOA (-10.0%) and BERGER (-10.0%) recorded the most significant losses of the day.
CURRENCY
The naira depreciated by 0.2% to NGN1,635.15/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 3bps to 32.8% in the absence of any significant funding pressure on the system.
The NTB secondary market traded with bearish sentiments as the average yield expanded by 15bps to 23.0%. Across the curve, the average yield declined at the short (-3bps) and mid (-4bps) segments, following demand for the 66DTM (-4bps) and 171DTM (-5bps) bills, respectively. Meanwhile, the average yield expanded at the long (+34bps) end due to profit-taking activities on the 332DTM (+199bps) bill. Elsewhere, the average yield declined by 4bps to 24.6% in the OMO segment.
Proceedings in the FGN bond secondary market was quiet as the average yield remained unchanged at 18.8%. Across the benchmark curve, the average yield declined at the short (-2bps) end due to buying interest in the MAR-2025 (-14bps) bond. Meanwhile, the average yield closed flat at the mid and long segments.
