June 2, 2026/Cordros Report
EQUITIES
The domestic bourse closed today’s session on a bearish note as losses in FIRSTHOLDCO (-6.7%), ZENITHBANK (-2.3%), PZ (-10.0%) and WEMABANK (-9.1%) caused a 0.4% decline in the All-Share Index to 246,686.66 points. Consequently, the Month-to-Date and Year-to-Date returns moderated to -1.5% and +58.5%, respectively.
The total volume traded declined by 47.9% to 587.64 million units, valued at NGN23.06 billion, and exchanged in 63,954 deals. ACCESSCORP was the most traded stock by volume at 113.10 million units, while ZENITHBANK was the most traded stock by value at NGN4.81 billion.
On sectors, the Banking (-1.6%), Consumer Goods (-0.5%), and Insurance (-0.4%) indices declined, while the Industrial Goods and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative (0.4x), as 36 tickers lost relative to 14 gainers. PZ (-10.0%) and CWG (-10.0%) posted the most significant losses of the day, while INTENEGINS (+9.9%) and TRANSEXPR (+7.4%) led the gainers.
CURRENCY
The official FX rate appreciated by 0.2% to NGN1,364.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate declined by 7bps to 22.2% in the absence of any significant funding pressure on the system.
Activities in the Treasury bills secondary market was bullish, as the average yield contracted by 1bp to 17.5%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-1bp) segments, due to the demand for the 79DTM (-1bp), 170DTM (-1bp) and 275DTM (-15bps) bills, respectively. Meanwhile, the average yield contracted by 1bp to 21.0% in the OMO segment.
Meanwhile, the FGN bond secondary market traded on a bearish note as the average yield expanded by 11bps to 15.9%. Across the benchmark curve, the average yield expanded at the short (+25bps), mid (+2bps) and long (+5bps) segments due to sell pressures on the MAR-2027 (+114bps), JUN-2033 (+9bps) and JUN-2038 (+38bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
