EQUITIES
The Nigerian equities market extended yesterday’s bullish sentiments following gains in FIRSTHOLDCO (+7.0%), DANGSUGAR (+8.2%) and GTCO (+1.7%). Consequently, the All-Share Index advanced by 0.3% to 121,653.93 points with the Month-to-Date and Year-to-Date returns settling at +1.4% and +18.2%, respectively.
The total volume of trades advanced by 22.3% to 1.01 billion units, valued at NGN19.48 billion, and exchanged in 24,770 deals. ACCESSCORP was the most traded stock by volume at 124.25 million units, while GTCO was the most traded stock by value at NGN2.86 billion.
Sectoral performance was mixed, as the Insurance (+2.5%), Banking (+1.1%) and Consumer Goods (+0.6%) indices advanced while the Oil & Gas (-0.2%) index declined. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (2.7x), as 56 tickers gained relative to 21 losers. CHAMPION (+10.0%) and OMATEK (+10.0%) led the gainers while DEAPCAP (-10.0%) and ETRANZACT (-9.6%) recorded the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 3bps to NGN1,530.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 208bp to 29.3%, in the absence of any significant funding pressure on the system.
The Nigerian Treasury bill market traded on a bullish note, as the average yield contracted by 46bps to 19.4%. Across the curve, the average yield contracted at the short (-1bp), mid (-21bps) and long (-82bps) segments, driven by the demand for the 79DTM (-1bp), 170DTM (-129bps) and 184DTM (-259bps) bills, respectively. Similarly, the average yield contracted by 62bps to 25.1% in the OMO segment.
Elsewhere, the FGN bond secondary market traded with bullish sentiments, as the average yield contracted by 21bps to 17.0%. Across the benchmark curve, the average yield contracted at the short (-51bps), mid (-12bps) and long (-8bps) segments, driven by demand for the JAN-2026 (-234bps), FEB-2031 (-34bps) and JAN-2042 (-60bps) bonds, respectively.
