May 4, 2026/Cordros Report
EQUITIES
The local bourse commenced the week on a bullish note as gains in BUACEMENT (+2.6%), STANBIC (+9.7%), GTCO (+3.7%) and DANGSUGAR (+10.0%) drove the All-Share Index higher by 0.4% to 243,158.97 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +0.4% and +56.3%, respectively.
The total volumes traded declined by 48.3% to 967.47 million units, valued at NGN43.84 billion, and exchanged in 122,041 deals. VFDGROUP was the most traded stock by volume at 255.35 million units, while ZENITHBANK was the most traded stock by value at NGN8.42 billion.
By sectors, the Insurance (+1.3%), Industrial Goods (+1.1%), Consumer Goods (+0.8%) and Banking (+0.4%) indices closed higher, while the Oil & Gas (-0.9%) index pared.
As measured by market breadth, market sentiment was positive (1.3x), as 43 tickers gained relative to 33 losers. FTNCOCOA (+10.0%) and CAP (+10.0%) led the gainers, while INTENEGINS (-9.8%) and UPDC (-9.2%) recorded the highest losses of the day.
CURRENCY
The official FX rate appreciated by 0.6% to NGN1,368.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 6bps to 22.2% as system liquidity remained surplus.
Sentiment in the Treasury bills secondary market was bullish, with the average yield contracting by 1bp to 17.5%. Across the curve, the average yield expanded at the short (+7bps) end following sell pressures on the 38DTM (+70bps) bill, while it contracted at the mid (-3bps) and long (-4bps) segments, driven by demand for the 171DTM (-3bps), and 353DTM (-4bps) bills, respectively. Similarly, the average yield contracted by 2bps to 21.1% in the OMO segment.
Elsewhere, trading in the FGN bond secondary market was bullish, as the average yield contracted by 2bps to 15.7%. Across the benchmark curve, the average yield contracted at the short (-2bps), mid (-2bps) and long (-1bp) segments due to demand for the FEB-2031 (-9bps), APR-2032 (-12bps) and JUN-2038 (-10bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
