March 9, 2026/Cordros Report
EQUITIES
The Nigerian equities market opened the week on a positive note, as gains in OANDO (+10.0%), NGXGROUP (+10.0%) and INTBREW (+8.1%) drove the All-Share Index higher by 0.1% to 197,196.97 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +2.3% and +26.7%, respectively.
The total volume traded increased by 32.6% to 762.53 million units, valued at NGN31.23 billion, and exchanged in 86,488 deals. ACCESSCORP was the most traded stock by volume at 48.27 million units, while ARADEL was the most traded stock by value at NGN5.07 billion.
Sectoral performance was mixed as the Oil & Gas (+2.1%) and Consumer Goods (+0.6%) indices advanced while the Insurance (-3.1%) and Banking (-1.0%) indices declined. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.6x), as 26 tickers gained relative to 41 losers. CONOIL (+10.0%) and LEGENDINT (+10.0%) led the gainers, while ALEX (-10.0%) and SCOA (-9.9%) posted the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 1.0% to NGN1,407.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 8bps to 22.3% 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 2bps to 17.6%. Across the curve, the average yield contracted at the short (-11bps) and mid (-2bps) segments, due to the demand for the 59DTM (-41bps) and 164DTM (-17bps) bills, respectively but expanded at the long (+11bps) end, due to profit-taking activities on the 318DTM (+117bps) bill. Conversely, the average yield contracted by 14bps to 21.2% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bearish note, as the average yield expanded by 9bps to 15.6%. Across the benchmark curve, the average yield expanded at the short (+1bp), mid (+32bps) and long (+4bps) segments, due to profit-taking activities on the AUG-2030 (+30bps), JUL-2034 (+61bps) and MAR-2036 (+32bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
