May 25, 2026/Cordros Report
EQUITIES
The Nigerian equities markets kicked off the week on a bullish note as gains in AIRTELAFRI (+10.0%), OANDO (+4.6%), FCMB (+3.5%) and JAIZBANK (+2.5%) drove the All-Share Index higher by 0.6% to 251,131.51 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +3.7% and +61.4%, respectively.
The total volume traded declined by 30.2% to 497.09 million units, valued at NGN31.62 billion, and exchanged in 74,129 deals. ACCESSCORP was the most traded stock by volume at 61.29 million units, while ARADEL was the most traded stock by value at NGN11.99 billion.
On Sectors, the Insurance (+0.5%) and Banking (+0.1%) indices advanced, while the Oil and Gas (-1.8%) and Consumer Goods (-0.3%) indices closed lower. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.2x), as 35 tickers gained relative to 30 losers. AIRTELAFRI (+10.0%) and INTENEGINS (+9.7%) led the gainers, while MCNICHOLS (-10.0%) and TIP (-9.9%) recorded the highest losses of the day.
CURRENCY
The official FX rate depreciated by 0.7% to NGN1,376.90/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 5bps to 22.2% in the absence of any significant funding pressure on the system.
Trading in the Treasury bill secondary market was bullish, as the average yield contracted by 3bps to 17.5%. Across the curve, the average yield expanded at the short (+2bps) end, driven by profit-taking activities on the 24DTM (+21bps), but contracted at the mid (-3bps) and long (-6bps) segments, due to the demand for the 178DTM (-9bps) and 206DTM (-38bps) bills, respectively. Meanwhile, the average yield contracted by 2bps to 21.1% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note, as the average yield contracted by 11bps to 15.8%. Across the benchmark curve, the average yield contracted at the short (-2bps) and mid (-48bps) segments, driven by buying interests in the FEB-2031 (-8bps) and MAR-2036 (-104bps) bonds, respectively, but expanded at the long (+5bps) end, due to sell pressures on the APR-2037 (+206bps) bond.
Kindly see below our Mutual Fund prices and returns as of today.
