February 25, 2026/Cordros Report
EQUITIES
The domestic bourse closed today’s session on a negative note, as losses in banking tickers, including FIRSTHOLDCO (-8.4%), ZENITHBANK (-2.2%), and GTCO (-1.7%), drove the All-Share Index lower by 0.1% to 194,370.20 points. Consequently, the Month-to-Date and Year-to-Date returns moderated to +17.5% and +24.9%, respectively.
The total volume traded increased by 19.3% to 1.36 billion units, valued at NGN45.36 billion, and exchanged in 69,642 deals. ZENITHBANK was the most traded stock by volume and value at 120.67 million units and NGN11.07 billion, respectively.
Sectoral performance was mixed, as the Insurance (-3.8%), Banking (-2.1%), Oil & Gas (-0.2%), and Industrial Goods (-0.2%) indices declined, while the Consumer Goods (+1.2%) index advanced.
As measured by market breadth, market sentiment was negative (0.4x), as 53 tickers lost relative to 21 gainers. RTBRISCOE (-10.0%) and ABCTRANS (-10.0%) led the losers, while JAIZBANK (+10.0%) and OKOMUOIL (+9.9%) posted the most significant gains of the day.
CURRENCY
The official FX rate appreciated by 0.6% to NGN1,351.13/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 10bps to 22.2% in the absence of any significant funding pressure on the system.
Activities in the Treasury bills secondary market were bearish, as the average yield expanded by 14bps to 17.2%. Across the curve, the average yield contracted at the short (-1bp) end, due to the demand for the 85DTM (-1bp), but expanded at the mid (+6bps) and long (+27bps) segments, due to profit-taking activities on the 176DTM (+45bps) and 288DTM (+58bps) bills, respectively. In contrast, the average yield contracted by 2bps to 20.4% in the OMO segment.
Elsewhere, the FGN bond secondary market traded with bullish sentiments, as the average yield contracted by 31bps to 15.4%. Across the benchmark curve, the average yield expanded at the short (+16bps) end, due to the sell-off of the FEB-2031 (+54bps) bond, but contracted at the mid (-34bps) and long (-64bps) segments due to buying interest in the MAR-2035 (-110bps) and MAR-2036 (-105bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
