The Nigerian equities market traded with mixed sentiments, albeit with a bearish tilt, as a loss in MTNN (-0.4%) triggered a 2bps decline in the All-Share Index to 52,308.88 points. Accordingly, the Month-to-Date and Year-to-Date returns were unchanged at +1.0% and +22.5%, respectively.
The total volume traded increased by 76.9% to 205.64 million units, valued at NGN2.79 billion, and exchanged in 4,127 deals. UBA was the most traded stock by volume at 74.28 million units, while MTNN was the most traded stock by value at NGN876.34 million.
Sectoral performance was broadly positive, as the Insurance (+0.9%), Oil & Gas (+0.8%), and Industrial Goods (+0.2%) indices closed higher, while the Banking (-0.4%) and Consumer Goods (-0.1%) indices declined.
As measured by market breadth, market sentiment was positive (1.1x) as 16 tickers gained relative to 14 losers. RTBRISCOE (+10.0%) and GLAXOSMITH (+9.0%) recorded the highest gains of the day, while MULTIVERSE (-9.5%) and ACADEMY (-7.0%) topped the losers’ list.
CURRENCY
The naira appreciated by 1.2% to NGN424.17/USD at the I&E window.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 50bps to 14.5%, as funding pressures outweighed inflows from OMO maturities (NGN10.00 billion).
Trading in the Treasury bills secondary market was bearish, as the average yield expanded by 14bps to 7.0%. Across the curve, the average yield closed flat at short and mid segments but expanded at the long (+30bps) end due to profit-taking on the 310DTM (+183bps) bill. Elsewhere, the average yield was unchanged at 7.4% in the OMO segment.
Proceedings in the Treasury bond secondary market were bearish as the average yield expanded by 6bps to 11.5%. Across the benchmark curve, the average yield expanded at the short (+20bps) end as investors sold off the MAR-2027 (+103bps) bond, but closed flat in the mid and long segments.
Source: Cordros Report
