May 7, 2026/Cordros Report
EQUITIES
The local bourse ended today’s session lower as sell pressures in DANGCEM (-4.9%), BUACEMENT (-6.5%), WAPCO (-5.1%) and ZENITHBANK (-3.1%) caused a 1.3% decline in the All-Share Index to 239,596.97 points. Consequently, the Month-to-Date and Year-to-Date returns moderated to -1.1% and +54.0%, respectively.
The total volume traded rose by 17.5% to 1.66 billion units, valued at NGN58.81 billion, and exchanged in 72,648 deals. NEM was the most traded stock by volume at 360.56 million units, while SEPLAT was the most traded stock by value at NGN12.98 billion.
On Sectors, the Insurance (+1.5%), Oil and Gas (+0.4%) and Consumer Goods (+0.1%) indices advanced, while the Industrial Goods (-5.5%) and Banking (-1.1%) indices declined.
As measured by market breadth, market sentiment was positive (1.5x), as 42 tickers gained relative to 28 losers. CAP (+10.0%) and FTNCOCOA (+10.0%) led the gainers, while UPL (-10.0%) and REDSTAREX (-9.6%) recorded the highest losses of the day.
CURRENCY
The official FX rate appreciated by 1.0% to NGN1,355.85/USD
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 8bps to 22.3% in the absence of any significant inflows into the system.
The Treasury bill secondary market traded on a quiet note, albeit with a bullish undertone, as the average yield contracted by 1bp to 17.5%. Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments due to demand for the 91DTM (-1bp) and 182DTM(-1bp) bills, respectively, but closed flat at the long end. Similarly, the average yield contracted by 1bp to 21.0% in the OMO segment.
Elsewhere, the FGN bond secondary market closed flat, as the average yield remained unchanged at 15.7%. Across the benchmark curve, the average yield expanded at the short (+1bp) end due to sell pressures on the MAR-2027 (+5bps) bond, but closed flat at the mid and long segments.
Kindly see below our Mutual Fund prices and returns as of today.
