EQUITIES
Sentiments in the Nigerian equities market turned negative, as profit-taking activities in top telecommunication player – MTNN (-1.2%) undermined the market’s performance. Precisely, the All-Share Index declined by 0.4% to 46,930.66 points. Consequently, the Month-to-Date and Year-to-Date gains moderated to +0.7% and +9.9%, respectively.
The total volume of trades increased by 27.4% to 434.95 million units, valued at NGN6.26 billion, and exchanged in 5,878 deals. FIDELITYBK was the most traded stock by volume at 47.74 million units, while SEPLAT was the most traded stock by value at NGN964.67 million.
On sectors, the Insurance (-1.9%), Banking (-1.4%), and Industrial Goods (-0.2%) indices declined. However, the Oil and Gas (+0.6%) index advanced, while the Consumer Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.6x) as 33 tickers lost relative to 20 gainers. ABCTRANS (-8.3%) and COURTVILLE (-6.9%) topped the losers’ list, while IKEJAHOTEL (+10.0%) and CONOIL (+10.0%) recorded the most significant gains of the day.
CURRENCY
The naira depreciated by 0.1% to NGN416.25/USD at the I&E window.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 100bps to 1.3%, in the absence of any significant funding pressures on the system.
Trading in the Treasury bills secondary market was mixed, albeit with a bullish tilt as the average yield pared by 2bps to 4.4%. Across the benchmark, the average yield was flat at the short and mid segments but contracted at the long (-6bps) end as market participants demanded the 204DTM (-48bps) bill. Elsewhere, the average yield expanded by 25bps to 5.5% in the OMO segment.
The Treasury bond secondary market traded quietly, as the average yield was unchanged at 11.5%. Across the benchmark curve, the average yield expanded at the short (+9bps) end as investors sold off the JAN-2026 (+24bps) bond but declined at the mid (-7bps) and long (-2bps) segments following increasing demand on the APR-2029 (-14bps) and JUL-2034 (-12bps) bonds, respectively.
Source Cordros Report
