The local bourse moved further into the bull territory as the demand for the top telecommunications player – MTNN (+2.3%), drove the benchmark index higher. Precisely, the All-Share Index increased by 0.6% to 52,048.85 points, with the Year-to-Date gain rising to +1.6%.
The total volume traded declined by 24.9% to 211.74 million units, valued at NGN7.73 billion, and exchanged in 3,462 deals. MANSARD was the most traded stock by volume at 26.25 million units, while AIRTELAFRI was the most traded stock by value at NGN4.14 billion.
On sector performance, the Banking (+2.2%), Consumer Goods (+0.7%), Insurance (+0.6%), Oil & Gas (+0.5%), and Industrial Goods (+0.2%) indices mirrored the positive sentiments in the overall market.
As measured by market breadth, market sentiment was positive (3.9x), as 35 tickers gained relative to 9 losers. LASACO (+10.0%) and ELLAHLAKES (+10.0%) topped the gainers’ list, while ABBEYBDS (-10.0%) and CHELLARAM (-9.8%) recorded the highest losses of the day.
CURRENCY
The naira appreciated by 0.2% to NGN461.17/USD at the I&E window.
The overnight lending rate was unchanged at 9.8%, as the system liquidity closed at a net long position (NGN557.32 billion).
The Treasury bills secondary market traded with bearish sentiments, as the average yield expanded by 5bps to 3.0%. Across the curve, the average yield was flat at the short and mid segments, but increased at the long (+18bps) end due to selloffs on the 315DTM (+88bps) bill. Elsewhere, the average yield remained at 3.4% in the OMO segment.
Proceedings at the Treasury bond secondary market were bearish, as the average yield expanded by 8bps to 12.6%. Across the benchmark curve, the average yield expanded at the short (+14bps) and long (+6bps) ends as investors sold off the MAR-2025 (+51bps) and JUL-2045 (+41bps) bonds, respectively. Meanwhile, the average yield was flat at the mid segment.
