January 12, 2026/Cordros Report
EQUITIES
The Nigerian equities market opened the week on a positive note as gains in WAPCO (+6.0%), FIRSTHOLDCO (+5.2%), NB (+4.0%), and TRANSCORP (+1.1%) spurred a 0.6% increase in the All-Share Index to 163,244.69 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +4.9%.
The total volume traded advanced by 84.2% to 1.15 billion units, valued at NGN19.23 billion, and exchanged in 59,359 deals. SOVRENINS was the most traded stock by volume at 307.47 million units, while FIDELITYBK was the most traded stock by value at NGN3.14 billion.
Sectoral performance was positive as the Oil & Gas (+1.5%), Insurance (+0.9%), Banking (+0.9%), Industrial Goods (+0.8%), and Consumer Goods (+0.6%) indices posted gains.
As measured by market breadth, market sentiment was positive (2.6x), as 49 tickers gained relative to 19 losers. REDSTAREX (+10.0%) and ETRANZACT (+10.0%) posted the most significant gains of the day, while CHAMPION (-8.5%) and IKEJAHOTEL (-8.0%) led the laggards.
CURRENCY
The official FX rate depreciated by 0.2% to NGN1,422.17/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 11bps to 22.7%, in the absence of funding pressures on the system.
Activities in the Treasury bills secondary market were calm, with a bullish undertone, as the average yield contracted by 1bp to 18.0%. Across the curve, the average yield contracted at the short (-2bps) and mid (-2bps) segments, driven by the demand for the 52DTM (-3bps) and 178DTM (-3bps) bills, respectively, but expanded on the long (+1bp) end due to profit-taking activities on the 311DTM (+45bps) bill. Similarly, the average yield contracted by 4bps to 21.6% in OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note, albeit with a bearish tilt, as the average yield expanded by 1bp to 16.5%. Across the curve, the average yield expanded at the mid (+4bps) segment, driven by sell pressures on the JUN-2033 (+15bps) bond, but remained unchanged at the short and long end.
Kindly see below our Mutual Fund prices and returns as of today.
