May 21, 2026/Cordros Report
EQUITIES
The Nigerian Equities market reversed yesterday’s loss as the gains in UNILEVER (+9.8%), UACN (+3.8%), and INTBREW (+3.7%) drove a 0.1% increase in the All-Share Index to 249,062.37 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +2.8% and +60.1%, respectively.
The total volume traded advanced by 90.0% to 1.06 billion units, valued at NGN30.97 billion, and exchanged in 62,448 deals. STERLINGNG was the most traded stock by volume at 322.68 million units, while ARADEL was the most traded stock by value at NGN5.06 billion.
On Sectors, the Consumer Goods (+0.5%) index advanced while the Insurance (-0.6%) and Oil and Gas (-0.1%) indices declined. The Industrial Goods and Banking Indices closed flat.
As measured by market breadth, market sentiment was negative (0.4x), as 17 tickers gained relative to 43 losers. INTENEGINS (+10.0%) and ABCTRANS (+9.9%) led the gainers, while BERGER (-10.0%) and LEARNAFRCA (-10.0%) recorded the highest losses of the day.
CURRENCY
The official FX rate depreciated by 0.1% to NGN1,375.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 4bps to 22.2% in the absence of any significant funding pressure on the system.
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 3bps to 17.5%. Across the curve, the average yield contracted at the short (-1bp), mid (-4bps) and long (-3bps) segments due to demand for the 91DTM (-1bp), 168DTM (-15bps) and 308DTM (-31bps) bills, respectively. Similarly, the average yield contracted by 1bp to 21.1% in the OMO segment.
The FGN bond secondary market traded in a lull with a bearish undertone, as the average yield expanded by 1bp to close at 15.8%. Across the benchmark curve, the average yield contracted at the mid (-2bps) segment following buying interest in the MAR-2035 (-9bps) bond but expanded on the long (+2bps) end due to the selloff of the APR-2037 (+20bps) bond. The average yield remained unchanged at the short end.
Kindly see below our Mutual Fund prices and returns as of today.
