December 23, 2025/Cordros Report
EQUITIES
The domestic equities market closed today’s session on a bullish note, as gains in BUAFOODS (+1.9%) and FIRSTHOLDCO (+9.4%) drove the All-Share Index higher by 0.6% to 153,354.13 points. As a result, the Month-to-Date and Year-to-Date returns settled higher at +6.9% and +49.0%, respectively.
The total volume traded advanced by 55.3% to 677.43 million units, valued at NGN20.78 billion, and exchanged in 27,589 deals. VFDGROUP was the most traded stock by volume at 191.97 million units while GEREGU was the most traded stock by value at NGN5.59 billion.
Sectoral performance was mixed as the Consumer Goods (+1.3%), Banking (+1.2%) and Industrial Goods (+0.2%) indices advanced, while the Insurance (-0.1%) index declined. The Oil & Gas index remained unchanged.
As measured by market breadth, market sentiment was positive (1.1x), as 28 tickers gained relative to 26 losers. ALEX (+10.0%) and AUSTINLAZ (+9.8%) led the gainers, while ROYALEX (-7.2%) and CHAMPION (-6.6%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.8% to NGN1,448.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 22.7% despite inflows from OMO maturities (NGN1.14 trillion).
The NTB secondary market traded on a quiet note albeit with a bullish tilt as the average yield contracted by 1bp to 17.7%. Across the curve, the average yield expanded at short (+11bps) and mid (+3bps) segments driven by the selloffs of the 79DTM (+55bps) and 107DTM (+9bps) bills, respectively but contracted at the long (-10bps) end driven by the demand for the 331DTM (-53bps) bill. Similarly, the average yield contracted by 2bps to 22.0% in the OMO segment.
Elsewhere, the FGN bond secondary market traded with bullish sentiments, as the average yield contracted by 2bps to 16.5%. Across the curve, the average yield expanded at the short (-7bps) and long (-2bps) ends driven by the buying interests in the AUG-2030 (-15ps) and JUN-2038 (-9bps) bonds, respectively but expanded at the mid (+4bps) segment due to sell pressures on the JUN-2033 (+9bps) bond.
Kindly see below our Mutual Fund prices and returns as of today.
