January 26, 2026/Cordros Report
EQUITIES
The Nigerian equities market closed relatively flat in today’s session as gains in UBA (+1.3%), ETI (+2.1%), and SKYAVN (+9.9%) were offset by losses in TRANSCORP (-2.4%), DANGSUGAR (-2.4%) and STERLINGNG (-6.7%). As a result, the All-Share Index remained unchanged at 165,517.56 points, with the Year-to-Date returns firming at +6.3%.
The total volume traded declined by 17.8% to 601.65 million units, valued at NGN17.30 billion, and exchanged in 58,429 deals. CHAMS was the most traded stock by volume at 41.57 million units, while GEREGU was the most traded stock by value at NGN2.78 billion.
Sectoral performance was mixed as the Consumer Goods (+0.2%) index advanced, while the insurance (-1.4%) index declined. The Industrial Goods, Oil & Gas and Banking indices closed flat.
As measured by market breadth, market sentiment was neutral (1.0x), as 35 tickers gained relative to 35 losers. NPFMCRFBK (+10.0%) and MORISON (+10.0%) led the gainers, while MAYBAKER (-10.0%) and NEIMETH (-9.8%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.5% to NGN1,416.50/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 22.8%.
Activities in the Treasury bills secondary market were bullish, as the average yield contracted by 2bps to 18.4%. Across the curve, the average yield expanded at the short (+1bp) end driven by the selloff of the 59TM (+20bps) bill but contracted at the mid (-3bps) and long (-5bps) segments due to the demand for the 178DTM (-3bps) and 360DTM (-25bps) bills, respectively. Conversely, the average yield expanded by 1bp to 22.4% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note, with the average yield unchanged at 15.7%. Across the benchmark curve, the average yield contracted at the mid (-1bp) segment, driven by buying interest in the JUN-2033 (-4bps) bond, but remained unchanged at the short and long ends.
Kindly see below our Mutual Fund prices and returns as of today.
