March 17, 2026/Cordros Report
EQUITIES
The domestic stock market closed today’s session on a positive note as gains in BUACEMENT (+10.0%), ZENITHBANK (+7.9%), and GTCO (+4.5%) drove the All-Share Index higher by 0.5% to 202,559.56 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +5.1% and +30.2%, respectively.
The total volume traded advanced by 84.8% to 1.75 billion units, valued at NGN88.10 billion, and exchanged in 62,654 deals. FCMB was the most traded stock by volume at 516.23 million units, while ZENITHBANK was the most traded stock by value at NGN18.10 billion.
Sectoral performance was mixed as the Industrial Goods (+4.5%) and Banking (+4.3%) Indices closed higher, while the Consumer Goods (-1.3%), Insurance (-0.4%) and Oil & Gas (-0.1%) Indices closed lower.
As measured by market breadth, market sentiment was positive (1.2x), as 38 tickers gained relative to 33 losers. BUACEMENT (+10.0%) and PREMPAINTS (+9.9%) posted the most significant gains of the day, while PRESCO (-10.0%) and CAVERTON (-8.7%) led the laggards.
CURRENCY
The official FX rate appreciated by 1.7% to NGN1,343.50/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 2bps to 22.3% in the absence of any significant funding pressure.
Activities in the Treasury bills secondary market traded on a quiet note, as the average yield remained unchanged at 17.7%. Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments, due to the demand for the 86DTM (-1bp) and 177DTM (-1bp) bills, respectively, but closed flat at the long end. Meanwhile, the average yield expanded by 1bp to 21.0% in the OMO segment.
The FGN bond secondary market traded on a bearish note as the average yield expanded by 2bps to 15.6%. Across the benchmark curve, the average yield expanded at the short (+4bps) and mid (+1bp) segments, due to sell pressures on the MAR-2027 (+25bps) and JUN-2033 (+2bps) bonds, respectively. The average yield closed flat at the long end.
Kindly see below our Mutual Fund prices and returns as of today.
