September 15, 2025/Cordros Report
EQUITIES
The domestic equities market opened the week on a positive note as gains in BUAFOODS (+6.7%), GTCO (+1.3%), and UNILEVER (+8.4%) drove the All-Share Index higher by 0.8% to 141,659.00 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +1.0% and +37.6%, respectively.
The total volume of trade declined by 27.7% to 555.12 million units, valued at NGN24.08 billion, and exchanged in 31,578 deals. UACN was the most traded stock by volume at 67.17 million units, while GEREGU was the most traded stock by value at NGN10.28 billion.
Sectoral performance was mixed as the Consumer Goods (+3.5%) and Banking (+0.1%) indices advanced, while the Insurance (-0.2%) and Oil & Gas (-1.0%) indices closed lower. The Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was positive (1.0x), as 30 tickers gained relative to 29 losers. LIVINGTRUST (+10.0%) and ETRANZACT (+9.7%) led the gainers, while MCNICHOLS (-9.9%) and HONYFLOUR (-9.1%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 1.4% to NGN1,498.50/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 4bps to 26.9% in the absence of any significant inflows into the system.
Activities in the Treasury bills secondary market were bullish, as the average yield contracted by 2bps to 18.1%. Across the curve, the average yield contracted at the short (-2bps), mid (-3bps) and long (-2bps) segments, driven by the demand for the 87DTM (-3bps), 101DTM (-5bps) and 325DTM (-4bps) bills, respectively. Similarly, the average yield contracted by 92bps to 24.6% in the OMO segment.
The FGN bond secondary market traded on a quiet note, as the average yield closed flat across the short, mid, and long segments of the benchmark curve.
Kindly see below our Mutual Fund prices and returns as of today.
