May 11, 2026/Cordros Report
EQUITIES
The local bourse commenced the week on a bullish note as bargain hunting in DANGCEM (+8.5%), MTNN (+2.3%), GTCO (+6.3%) and FIRSTHOLDCO (+10.0%) drove the All-Share Index higher by 2.3% to 250,481.42 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +3.4% and +61.0%, respectively.
The total volumes traded advanced by 17.2% to 1.49 billion units, valued at NGN68.45 billion, and exchanged in 94,834 deals. VERITASKAP was the most traded stock by volume at 194.63 million units, while MTNN was the most traded stock by value at NGN12.39 billion.
On sectors, performance was broadly bullish, as the Banking (+4.7%), Industrial Goods (+4.3%), Consumer Goods (+0.7%) and Insurance (+0.6%) indices advanced. The Oil & Gas index closed flat.
As measured by market breadth, market sentiment was positive (2.7x), as 57 tickers gained relative to 21 losers. LIVESTOCK (+10.0%) and CHAMS (+10.0%) led the gainers, while PRESTIGE (-10.0%) and SOVRENINS (-10.0%) recorded the highest losses of the day.
CURRENCY
The official FX rate depreciated by 1.1% to NGN1,375.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 2bps to 22.1% in the absence of any significant inflows into the system.
Sentiment in the Treasury bills secondary market was bullish, as the average yield contracted by 2bps to 17.5%. Across the curve, the average yield contracted at the short (-4bps) and long (-4bps) ends, driven by the demand for the 87DTM (-16bps) and 346DTM (-18bps) bills, respectively, but expanded at the mid (+2bps) segment due to sell pressures on the 122DTM (+10bps) bill. Meanwhile, the average yield contracted by 4bps to 21.0% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note, as the average yield contracted by 1bp to 15.7%. Across the benchmark curve, the average yield contracted at the short (-3bps) end, due to buying interest in the AUG-2030 (-10bps) bond, but closed flat at the mid and long segments.
Kindly see below our Mutual Fund prices and returns as of today.
