April 20, 2026/Cordros Report
EQUITIES
The local bourse commenced the week on a bullish note as gains in FIRSTHOLDCO (+6.3%), UBA (+8.3%), ACCESSCORP (+9.9%) and WAPCO (+2.5%) drove the All-Share Index higher by 0.4% to 218,115.75 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +8.4% and +40.2%, respectively.
The total volumes traded declined by 23.8% to 959.29 million units, valued at NGN48.41 billion, and exchanged in 75,297 deals. ACCESSCORP was the most traded stock by volume at 91.65 million units, while ZENITHBANK was the most traded stock by value at NGN7.00 billion.
By sectors, the Banking (+2.6%), Oil & Gas (+0.8%), Consumer Goods (+0.4%) and Industrial Goods (+0.4%) indices closed higher, while the Insurance index closed flat.
As measured by market breadth, market sentiment was neutral (1.0x), as 35 tickers gained relative to 34 losers. NAHCO (+10.0%) and UNIONDICON (+10.0%) led the gainers, while LIVINGTRUST (-10.0%) and STANBIC (-10.0%) recorded the highest losses of the day.
CURRENCY
The official FX rate declined by 0.3% to NGN1,350.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 7bps to 22.2% in the absence of any significant funding pressure on the system.
Sentiment in the Treasury bills secondary market was bullish, as the average yield contracted by 2bps to 17.4%. Across the curve, the average yield contracted at the short (-2bps), mid (-2bps) and long (-2bps) segments, driven by demand for the 80DTM (-2bps), 171DTM (-2bps), and 339DTM (-3bps) bills, respectively. Similarly, the average yield contracted by 4bps to 20.7% in the OMO segment.
Elsewhere, trading in the FGN bond secondary market was bearish, as the average yield expanded by 9bps to 15.6%. Across the benchmark curve, the average yield expanded at the short (+20bps) and mid (+2bps) segments due to sell pressures on the FEB-2028 (+61bps) and APR-2032 (+23bps) bonds, respectively, but remained unchanged at the long end.
Kindly see below our Mutual Fund prices and returns as of today.
