Equities

ASI loses 21bps

The benchmark index closed lower in the first trading session of the week, shedding 21bps to settle at 97,626.47 points. The negative outturn in today's session stemmed from selloffs in banking tickers - GTCO (-3.39%), STANBIC (-3.09%) and FBNH (-1.57%) as well as WAPCO (-1.85%) and DANGSUGAR (-2.71%). In tandem, market sentiment was negative, with market breadth at 0.9x as 29 losers outpaced 26 gainers. HMCALL (+10.00%) led the gainers, while NSLTECH (-9.84%) topped the laggards list.

Trade metrics improved significantly as volume and value trades expanded by 83.1% and 75.4%, respectively, to 671.26 million units and N10.64 billion, respectively. FBNH dominated the volume and value traded charts with 245.25 million units (36.5% of total volume traded) valued at N6.23 billion (58.5% of total value traded), primarily driven by a block trade of 190 million units executed at N25.50. 

Bearish Sectoral Performance

All indices closed in red, barring the Insurance index, which gained 0.69% as investors accumulated units of SUNUASSUR (+9.81%). Elsewhere, the Banking (-1.60%), Oil & gas (-0.24%), Industrial goods (-0.16%) and Consumer goods (-0.03%) indices all closed lower, owing to selloffs in GTCO (-3.39%), JAPAULGOLD (-6.09%), WAPCO (-1.85%) and DANGSUGAR (-2.71%), respectively.

Bonds

The secondary bond market was quiet, with some bearish activity at the short (+1bp), where investors sold off the JAN-26 (+6bps) paper. Consequently, the average yield remained unchanged at 19.40%.

Money market

Interbank rates"”OPR and O/N"” declined by 13bps and 25bps to 32.06% and 32.56%, respectively.

Kindly click here for the summary of activities in the market today

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