October 23, 2025/Cordros Report
EQUITIES
The Nigerian equities market sustained its bullish momentum as gains in MTNN (+2.0%), WAPCO (+8.6%), and ARADEL (+3.9%) drove the All-Share Index higher by 0.5% to 154,489.90 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +8.3% and +50.1%, respectively.
The total volume traded advanced by 57.2% to 926.92 million units, valued at NGN26.95 billion and exchanged in 30,703 deals. JAPAULGOLD was the most traded stock by volume at 436.05 million units, while WAPCO was the most traded stock by value at NGN6.98 billion, respectively.
Sectoral performance was mixed as the Industrial Goods (+3.1%) and Oil & Gas (+1.1%) indices advanced while the Insurance (-1.3%), Banking (-1.1%) and Consumer Goods (-0.9%) indices declined.
As measured by market breadth, market sentiment was negative (0.9x), as 33 tickers gained relative to 36 losers. TIP (+10.0%) and PZ (+10.0%) led the gainers, while JOHNHOLT (-9.7%) and MULTIVERSE (-9.7%) led the laggards.
CURRENCY
The official FX rate depreciated by 0.1% to NGN1,463.34/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 24.9%, closing at a net long position (NGN3.00 trillion).
The NTB secondary market traded on a calm note, albeit with a bullish undertone, as the average yield pared by 1bp to 17.3%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-1bp) segments, driven by the demand for the 77DTM (-1bp), 182DTM (-1bp), and 350DTM (-1bp) bills, respectively. Similarly, the average yield contracted by 1bp to 21.6% in the OMO segment.
Elsewhere, the FGN bond secondary market was quiet, as the average yield remained unchanged.
Kindly see below our Mutual Fund prices and returns as of today.
