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Nigerian Equities Maintain Flat Positions As Overnight Lending Rate Down By 2.2%
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Nigerian Equities Maintain Flat positions As overnight Lending Rate Contracted By 46bps To 2.2%

By Cordros

EQUITIES

The domestic bourse maintained its stance from yesterday’s session as the benchmark index remained flat at 28,344.04 points. As a result, the Month-to-Date and Year-to-Date gain were unchanged at 5.6%.

The total volume traded increased by 56.7% to 342.19 million units, valued at NGN5.04 billion and exchanged in 4,048 deals. UBA was the most traded stock by volume at 92.87 million units while GUARANTY was the most traded stock by value at NGN1.84 billion.

Across sectors, the Consumer Goods (+0.4%) and Industrial Goods (+0.3%) indices recorded gains, the Banking (-0.7%) and Insurance (-0.5%) indices declined, while the Oil & Gas index stayed flat.

Market sentiment, as measured by the market breadth, was positive (1.1x), as 13 tickers gained relative to 12 losers. ETERNA (+10.0%) and WAPCO (+4.0%) topped the gainers’ list, while AIICO (-3.6%) and GLAXOSMITH (-3.5%) recorded the largest losses of the day.

CURRENCY

The naira closed flat at NGN385.67/USD and NGN462.00/USD at the I&E window and parallel market, respectively.

MONEY MARKET & FIXED INCOME

The overnight lending rate contracted by 46bps to 2.2%, as inflows from OMO maturities (NGN370.00 billion) came into the system.

Trading in the NTB secondary market turned bullish, as market participants covered for lost bids at yesterday’s PMA. Thus, average yield contracted by 32bps to 1.1%. Across the curve, yield declined at the short (-36bps), mid (-48bps) and long (-20bps) segments, following buying interests in the 91DTM (-47bps), 147DTM (-77bps) and 210DTM (-50bps) instruments, respectively. Similarly, average yield contracted by 10bps to 1.3% at the OMO secondary market.

Trading in the Treasury bond secondary market remained bullish, as average yield contracted by 44bps to 5.5%. Across the curve, average yield declined at the short (-20bps), mid (-82bps) and long (-43bps) segments, due to demand for the JAN-2026 (-54bps), MAR-2027 (-103bps) and JUL-2034 (-67bps) bonds, respectively


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