Market Summary 18-06-2025 | InfoWARE Finance

Market Summary 18-06-2025
(Source: CardinalStone Research, Date: 18-Jun-2025)

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Equities

ASI advances by 1.63%

Buoyed by sustained demand in MTNN (+4.79%) and renewed interest in energy tickers such as SEPLAT (+9.78%), TRANSPOWER (+8.22%) and ARADEL (+7.36%), the benchmark index (ASI) and market capitalization advanced by 1.63%, reaching new highs of 116,786.87 points and N73.68 trillion, respectively. Additionally, banks rebounded as press releases addressing forbearance loans and Single Obligor Limit (SOL) positions helped ease initial market concerns. Precisely, GTCO (+4.43%) maintained its positive momentum, while ZENITHBANK (+5.32%), UBA (+5.59%), and ACCESSCORP (+4.49%) garnered heightened investor interest, further bolstering the market's overall performance.

Elsewhere, market breadth printed higher at 1.28x, as there were more gainers (37) than losers (29), reflecting the marked improvement in overall market sentiment. NEM (+10.00%) emerged as the best-performing counter, while ETERNA (-10.00%) led the laggards.

In terms of market activity, total trade volumes (-18.70%) declined to 640.08 million units, while total trade value (+1.34%) increased marginally to reach N26.0 billion. There were major cross trades in ZENITHBANK with c.70.00 million units traded between N47.90/share and N48.00/share. Accordingly, ZENITHBANK emerged as the most traded stock, as a total of 149.92 million units worth N7.21 billion exchanged hands.

Sectoral performance

Sectoral performance was largely bullish. The Oil & Gas (+7.49%), Commodity (+5.63%), Banking (+3.25%) and Insurance (+2.02%) indexes recorded big moves, driven by strong demand in counters like SEPLAT (+9.78%), TRANSPOWER (+8.22%), ARADEL (+7.36%), GTCO (+4.43%), and NEM (+10.00%) amongst others. Also, the Industrial Goods index increased by a meagre 0.09% on the back of marginal price uptick in DANCEM (+0.25%), while the Consumer Goods index shed 0.16%, following sell pressures in NB (-1.19%).

Fixed income

The fixed income market traded calmly as market players adopted a wait and see approach in anticipation of today's NTB auction.

For FGN Bonds, the session saw sustained bullish sentiments on the 2033 bonds, following the release of the June offer circular, which revealed a total of N50.00 billion each on offer for a re-tap of the 2029 bond and a new issuance of the 2032 bonds. Overall, average yield on FGN Bonds slipped by 2bps to settle at 18.83%.

Meanwhile, across bills, activity remained limited across the curve as focus shifted to the auction.

Money market

Interbank rates - OPR and O/N were largely unchanged to print at 26.50% and 26.94%, respectively.

Currency

The Naira depreciated at the official CBN NFEM window, losing 22bps to trade at N1,550.90/$. Also, in the parallel market, the Naira weakened to trade at N1565.00/$.

NASD

ï»¿Sentiments at the NASD OTC exchange turned bearish as the NSI and market capitalization shed 0.72% to settle at 3,335.35 points and N1.95 trillion, respectively. However, activity levels improved with volume and value traded increasing by 31.26% and 104.13%, respectively, as a total of 839.33 thousand units worth N48.08 million were traded across 61 deals.

Notable gainers in today's session include GEFLUID (+9.87%), AGMBANK (+9.21%), and FSTTRUSTMB (+8.62%). Meanwhile, names like OKITIPUPA (-9.50%), and FCWAMCO (-3.18%) shed some value.