May 12, 2026/Cordros Report
EQUITIES
Nigerian equities closed today’s session on a negative note, as selloffs in BUACEMENT (-10.0%), FIRSTHOLDCO (-4.0%), GTCO (-0.5%) and OANDO (-3.1%) drove the All-Share Index lower by 1.0% to 248,949.37 points. Consequently, the Month-to-Date and Year-to-Date returns moderated to +2.8% and +60.0%, respectively.
The total volume traded declined by 20.9% to 557.20 million units, valued at NGN29.95 billion, and exchanged in 56,482 deals. ACCESSCORP was the most traded stock by volume at 55.96 million units, while ZENITHBANK was the most traded stock by value at NGN4.81 billion.
On sectors, the Industrial Goods (-3.8%), Consumer Goods (-0.5%), Banking (-0.3%) and Oil & Gas (-0.1%) indices declined, while the Insurance (+0.8%) index advanced.
As measured by market breadth, market sentiment was positive (1.6x), as 40 tickers gained relative to 25 losers. ABCTRANS (+10.0%) and JAPAULGOLD (+10.0%) led the gainers, while BUACEMENT (-10.0%) and CAP (-10.0%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,374.25/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 9bps to 22.5% in the absence of any significant funding pressure on the system.
The NTB secondary market traded on a bullish note, as the average yield contracted by 1bp to 17.5%. Across the curve, the average yield contracted at the short (-1bp) and long (-1bp) ends, due to the demand for the 92DTM (-1bp) and 351DTM (-1bp) bills, respectively, but closed flat at the mid segment. Meanwhile, the average yield contracted by 1bp to 21.2% in the OMO segment.
Elsewhere, the FGN bond secondary market was bearish, as the average yield expanded by 14bps to 15.8%. Across the benchmark curve, the average yield expanded at the short (+8bps), mid (+3bps) and long (+24bps) segments, due to sell pressures on the FEB-2031 (+35bps), JUN-2033 (+15bps) and APR-2037 (+150bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
