February 4, 2026/Cordros Report
EQUITIES
The local bourse sustained its bullish momentum in today’s trading session as gains in MTNN (+2.9%), ARADEL (+3.7%), FIRSTHOLDCO (+9.9%) and WAPCO (+5.1%) drove the All-Share Index higher by 1.3% to 168,030.18 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +1.6 and +8.0%, respectively.
The total volume traded declined by 2.2% to 694.79 million units, valued at NGN20.57 billion, and exchanged in 42,095 deals. CHAMS was the most traded stock by volume at 57.44 million units, while SEPLAT was the most traded stock by value at NGN2.56 billion.
Sectoral performance was broadly positive as the Banking (+2.3%), Oil & Gas (+1.5%), Industrial Goods (+1.2%) and Consumer Goods (+1.1%) indices advanced while the Insurance (-0.8%) index declined.
As measured by market breadth, market sentiment was positive (2.1x), as 52 tickers gained relative to 25 losers. DAARCOMM (+10.0%) and BERGER (+10.0%) led the gainers, while REDSTAREX (-10.0%) and DEAPCAP (-10.0%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 1.6% to NGN1,359.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 37bps to 22.8%, in the absence of any significant funding pressure on the system.
Activities in the Treasury bills secondary market were quiet, as the average yield closed flat at 18.2%. Across the curve, the average yield expanded at the short (+2bps) end, due to profit-taking activities on the 29DTM (+19bps) bill, but contracted at the mid (-1bp) and long (-1bp) segments, driven by demand for the 169DTM (-1bp) and 351DTM (-1bp) bills, respectively. Meanwhile, the average yield remained unchanged at 21.9% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note, as the average yield contracted by 2bps to 16.2%. Across the benchmark curve, the average yield contracted at the short (-3bps) and mid (-6bps) segments, driven by demand for the FEB-2031 (-10bps) and APR-2032 (-12bps) bonds. The average yield remained unchanged at the long end.
Kindly see below our Mutual Fund prices and returns as of today.
