December 18, 2025/Cordros Report
EQUITIES
The domestic equities market closed today’s session on a bullish note, as gains in NESTLE (+10.0%), FIRSTHOLDCO (+7.7%), UBA (+4.5%), and GUINNESS (+10.0%) drove the benchmark index higher by 0.4% to 150,363.03 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +4.8% and +46.1%, respectively.
The total volume of trades declined by 85.8% to 839.77 million units, valued at NGN32.81 billion, and exchanged in 23,211 deals. FIRSTHOLDCO was the most traded stock by volume and value at 385.62 million units and NGN15.54 billion.
Sectoral performance was mixed as the Consumer Goods (+1.2%), Banking (+0.6%), Oil & Gas (+0.1%) indices advanced, while the Insurance (-0.2%) index declined. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.3x), as 35 tickers gained relative to 26 losers. NESTLE (+10.0%) and GUINNESS (+10.0%) led the gainers, while STANBIC (-9.3%) and LASACO (-9.1%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,459.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 22.8%.
The NTB secondary market traded on a quiet note, albeit with bullish tilt, as the average yield contracted by 1bp to 17.5%. Across the curve, the average yield contracted at the mid (-1bp) and long (-4bps) segments, driven by the demand for the 182DTM (-1bp) and 357DTM (-35bps) bills, respectively, but expanded at the short (+2bps) end due to sell pressures on the 63DTM (+18bps) bill. Similarly, the average yield contracted by 38bps to 22.0% in the OMO segment.
Elsewhere, the FGN bond secondary market also traded on a calm note, as the average yield contracted by 1bp to 16.6%. Across the curve, the average yield contracted at the short (-4ps) end, due to buying interest in the APR-2029 (-15bps) bond but closed flat at the mid and long segments.
Kindly see below our Mutual Fund prices and returns as of today
