EQUITIES
Trading in the domestic bourse kicked off the week on a positive note, driven by strong buying interest in WAPCO (+10.0%) following the announcement of the proposed sale of the company’s majority stake to Huaxin Cement. As a result, the All-Share Index rose by 0.2% to close at 97,733.86 points. Thus, the month-to-date and Year-to-Date returns printed +0.2% and +30.7%, respectively.
The total volume traded declined by 13.5% to 446.19 million units, valued at NGN9.99 billion, and exchanged in 9,200 deals. JAPAULGOLD was the most traded stock by volume at 72.03 million units, while UBA was the most traded stock by value at NGN2.23 billion.
Sectoral performance was broadly positive as the Insurance (+2.1%), Industrial Goods (+0.9%), Consumer Goods (+0.7%), Oil & Gas (+0.4%) and Banking (+0.1%) indices posted gains.
As measured by market breadth, market sentiment was positive (1.5x), as 35 tickers gained relative to 24 losers. ABBEYBDS (+10.0%) and AFRIPRUD (+10.0%) topped the gainers’ list, while ETRANZACT (-10.0%) and NCR (-9.9%) recorded the most significant losses of the day.
CURRENCY
The naira closed flat at NGN1,672.69/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 201bps to 27.9%, following inflows from FGN bond coupon (NGN10.17 billion).
The NTB secondary market traded with bullish sentiments as the average yield contracted by 5bps to 25.1%. Across the curve, the average yield declined at the short (-5bps), mid (-5bps) and long (-6bps) segments following demand for the 80DTM (-5bps), 129DTM (-6bps) and 325DTM (-6bps) bills, respectively. Similarly, the average yield declined by 22bps to 27.0% in the OMO segment.
Proceedings in the FGN bond secondary market was quiet but with a bearish undertone as the average yield expanded by 1bp to 19.1%. Across the benchmark curve, the average yield expanded at the short (+2bps) end due to sell pressure on the JAN-2026 (+5bps) bond. Meanwhile, the average yield closed flat at the mid and long segments.
