BY BAMIDELE FAMOOFO
The local bourse kicked off the week on a bullish note, as bargain buying on Dangote Cement (+4.0%) stock triggered a 0.1% gain in the All-Share Index to 43,897.13 points.
Accordingly, the Year-to-Date return increased to +2.8%.
The total volume traded decreased by 21.3% to 311.26 million units, valued at N8.64 billion, and exchanged in 5,159 deals. BUAFOODS was the most traded stock by volume and value at 101.36 million units and N5.93 billion, respectively. Performance across sectors was mixed following losses in the Oil & Gas (-0.6%), Banking (-0.1%), and Consumer Goods (-0.1%) indices and gains in the Insurance (+2.8%) and Industrial Goods (+1.7%) indices.
As measured by market breadth, market sentiment was positive (1.5x) as 28 tickers gained relative to 19 losers. BUAFOODS (+10.0%) and MRS (+9.7%) recorded the most significant gains of the day, while NNFM (-9.7%) and UBN (-6.9%) topped the losers’ list.
In the currency market, naira depreciated by 0.1% to N416.50/USD at the I&E window. The overnight lending rate contracted by 25bps to 14.5% in the absence of any significant funding pressure on the system.
Trading in the NTB secondary market was bullish, as the average yield contracted slightly by 2bps to 4.4%. Across the curve, the average yield declined at the short (-7bps) end due to demand for the 80DTM (-39bps) bill; yields were unchanged at the mid and long segments. Elsewhere, the average yield was flat at 5.5% in the OMO segment.
Proceedings at the Treasury bond secondary market were mixed, albeit with a bullish bias, as the average yield pared by 1bp to 11.4%. Across the benchmark curve, the average yield contracted at the short (-3bps) end as investors demanded the JAN-2026 (-15bps) bond but closed flat at the mid and long segments.
