March 16, 2026/Cordros Report
EQUITIES
The Nigerian domestic market opened the week on a positive note as gains in BUACEMENT (+10.0%), MTNN (+2.4%), ZENITHBANK (+7.4%), and DANGCEM (+1.0%) lifted the All-Share Index by 1.6%, breaching the 200,000-point threshold to close at 201,474.89 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +4.5% and +29.5%, respectively.
The total volume traded advanced by 60.4% to 948.21 million units, valued at NGN49.17 billion, and exchanged in 72,735 deals. SOVRENINS was the most traded stock by volume at 72.56 million units, while ZENITHBANK was the most traded stock by value at NGN5.96 billion.
Sectoral performance was mixed as the Industrial Goods (+4.5%) and Banking (+2.2%) Indices closed higher, while Insurance (-0.4%) and Oil & Gas (-0.1%) Indices closed lower. The Consumer Goods Index closed flat.
As measured by market breadth, market sentiment was positive (1.3x), as 37 tickers gained relative to 29 losers. BUACEMENT (+10.0%) and PREMPAINTS (+9.8%) posted the most significant gains of the day, while VFDGROUP (-10.0%) and ROYALEX (-9.6%) led the laggards.
CURRENCY
The official FX rate appreciated by 0.2% to NGN1,365.61/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 6bps to 22.3%, in the absence of funding pressures on the system.
Activities in the Treasury bills secondary market were bearish, as the average yield expanded by 5bps to 17.6%. Across the curve, the average yield contracted at the short (-2bps) and mid (-2bps) segments, due to the demand for the 87DTM (-2bps) and 178DTM (-3bps) bills, respectively, but expanded at the long (+12bps) end, following profit-taking activities on the 269DTM (+107bps) bill. Meanwhile, the average yield contracted by 4bps to 21.0% in the OMO segment.
The FGN bond secondary market traded on a quiet note as the average yield remained unchanged at 15.6%
Kindly see below our Mutual Fund prices and returns as of today.
