Yesterday, Wednesday, sentiments in the local bourse turned bullish as buying interest in GEREGU (+10.0%) drove the benchmark index higher. Thus, the All-Share Index notched a 0.2% increase to close at 54,315.53 points. Accordingly, the Month-to-Date and Year-to-Date returns printed +2.0% and +6.0%, respectively.
The total volume traded decreased by 48.9% to 129.91 million units, valued at NGN3.92 billion, and exchanged in 2,678 deals. AIICO was the most traded stock by volume at 16.18 million units, while SEPLAT was the most traded stock by value at NGN1.10 billion.
Sectoral performance was mixed as the Insurance (-0.8%) index declined, while the Banking (+0.3%) advanced. On the other hand, the Consumer Goods, Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was positive (1.6x), as 18 tickers gained relative to 11 losers. GEREGU (+10.0%) and JOHNHOLT (+9.6%) topped the gainers’ list, while MCNICHOLS (-9.8%) and WAPIC (-6.8%) recorded the most significant losses of the day.
CURRENCY
The naira depreciated by 0.1% at NGN461.60/USD at the I&E window.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 438bps to 12.6%, in the absence of any significant inflows into the system.
Activities in the Treasury bills secondary market were bullish, as the average yield declined by 2bps to 4.1%. Across the curve, the average yield contracted at the short (-4bps) end following buying interests in the 36DTM (-25bps) bill. Conversely, the average yield was flat at the mid and long segments. Elsewhere, the average yield was unchanged at 3.8% in the OMO segment.
Proceedings in the FGN bond secondary market were bullish, as the average yield pared by 1bp to 13.0%. Across the benchmark curve, the average yield inched higher at the short (+1bp) end as investors sold off the JAN-2026 (+21bps) bond but declined at the long (-2bps) end following demand for the APR-2037 (-8bps) bond. The average yield remained flat at the mid segment.
