Equities

ASI gains 80bps

The local bourse rebounded from its previous session's decline, with the benchmark index advancing by 80bps to close at 104,230.73 points. Consequently, investor wealth increased by N507.28 billion, pushing market capitalisation to N63.57 trillion. The uptick was primarily driven by strong demand in MTNN (+10.00%), as investors continued to react positively to the potential tariff hike by telecom operators. Additionally, an uptick in FBNH (+6.61%), alongside the renewed interest in TRANSCORP (+10.00%), further supported the market's recovery. However, market breadth closed slightly negative at 0.96x, with 28 laggards marginally outweighing 27 gainers. MTNN (+10.00%) topped the gainers log, while SUNUASSUR (-9.99%) led the laggards.

Trading activity diverged, with total volume traded declining by 31.99% to settle at 756.42 million units, while total value traded surged by 68.68% to N24.69 billion. TANTALIZER dominated the volume charts, trading 82.39 million units, which accounted for 10.89% of the total volume traded. On the value charts, GEREGU led with transactions worth N11.39 billion, representing 46.12% of the total value traded.

Sectoral performance

Sectoral performance was predominantly positive, with three indices closing in the green and two in the red. The Banking (+0.55%), Consumer Goods (+0.09%), and Industrial Goods (+0.01%) indices saw gains driven by positive sentiments in FBNH (+6.61%), HONYFLOUR (+9.95%), and CUTIX (+5.49%), respectively. Conversely, the Insurance (-0.27%) index declined due to persistent profit-taking in SUNUASSUR (-9.99%) and CORNERST (-5.30%), while the Oil and Gas (-0.13%) index dipped following selloffs in OANDO (-1.18%). The newly listed Commodity Index closed flat.

Bonds

The FGN secondary bond market experienced minimal activity, although mild bullish sentiment was observed at the JAN 26 (-38bps) instrument. This led to a contraction at the short end (-3bps) of the yield curve, causing the average yield to ease slightly by 1bp to settle at 19.78%.

Money market

Interbank rates"”OPR and O/N"”declined by 90bps and 110bps, respectively, closing at 27.00% and 27.50%.

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

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