May 19, 2026/Cordros Report
EQUITIES
The local bourse closed higher, driven by demand for BUACEMENT (+5.8%), FIRSTHOLDCO (+3.8%), ZENITHBANK (+1.5%) and UBA (+2.7%), with the All-Share Index advancing by 0.6% to close at 251,635.42 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +3.8% and +61.7%, respectively.
The total volume traded declined by 12.1% to 703.95 million units, valued at NGN32.15 billion, and exchanged in 64,539 deals. ACCESSCORP was the most traded stock by volume at 88.41 million units, while ZENITHBANK was the most traded stock by value at NGN4.00 billion.
On Sectors, the Industrial Goods (+2.3%) and Banking (+1.0%) indices advanced while the Insurance (-1.6%), Consumer Goods (-0.9%) and Oil & Gas (-0.3%) indices declined.
As measured by market breadth, market sentiment was negative (0.9x), as 27 tickers gained relative to 31 losers. FTNCOCOA (+10.0%) and SKYAVN (+9.8%) led the gainers, while UNILEVER (-10.0%) and TRANSEXPR (-9.9%) recorded the highest losses of the day.
CURRENCY
The official FX rate depreciated by 0.3% to NGN1,375.50/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 9bps to 22.2% despite inflows from OMO maturities (NGN2.25 trillion).
Sentiment in the Treasury bill secondary market was quiet with a bearish tilt as the average yield expanded by 1bp to 17.5%. Across the curve, the average yield expanded at the short (+5bps) and mid (+1bp) segments due to selloffs of the 65DTM (+39bps), 142DTM(+19bps) bills, respectively, while the long end closed flat. Similarly, the average yield expanded by 3bps to 21.2% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note, as the average yield contracted by 4bps to close at 15.7%. Across the benchmark curve, the average yield contracted at the short (-14bps) end due to demand for the MAR-2027 (-111bps) bond, but remained unchanged at the mid and long segments.
Kindly see below our Mutual Fund prices and returns as of today.
