August 27, 2025/Cordros Report
EQUITIES
Bearish sentiments resurfaced in the domestic equities market, as the selloff in GTCO (-3.1%), GUINNESS (-7.3%) and ZENITHBANK (-1.0%) drove the All-Share Index lower by 0.4% to 141,248.76 points. Consequently, the Month-to-Date and Year-to-Date returns moderated to +1.0% and +37.2%, respectively.
The total volume of trades advanced by 12.9% to 682.89 million units, valued at NGN22.22 billion, and exchanged in 28,695 deals. FCMB was the most traded stock by volume at 108.48 million units, while ARADEL was the most traded stock by value at NGN4.10 billion.
On sectors, the Insurance (-3.4%), Consumer Goods (-0.9%) and Banking (-0.8%) indices settled lower while the Oil &Gas (+0.2%) index advanced. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.4x), as 16 tickers gained relative to 38 losers. CORNERST (-10.0%) and RTBRISCOE (-10.0%) recorded the highest losses of the day, while DEAPCAP (+4.8%) and LEGENDINT (+4.6) led the gainers.
CURRENCY
The official FX rate depreciated by 0.2% to NGN1,541.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 8bps to 26.9% in the absence of any significant inflows into the system.
The T-bills secondary market traded with bearish sentiments as the average yield expanded by 13bps to 18.7%. Across the curve, the average yield declined at the short (-1bp) and mid (-1bp) segments due to interest in the 71DTM (-1bp) and 176DTM (-1bp) bills, respectively, but advanced at the long (+30bps) end following the selloff of the 344DTM (+162bps) bill. Similarly, the average yield expanded by 4bps to 25.5% in the OMO segment.
The Treasury bond secondary market traded on a calm note with a bearish undertone as the average yield expanded by 1bp to 16.6%. Across the benchmark curve, the average yield expanded at the short (+4bps) end following the selloff of the APR -2029 (+19bps) bond but closed flat at the mid and long segments.
Kindly see below our Mutual Fund prices and returns as of today.
