June 3, 2026/Cordros Report
EQUITIES
The domestic bourse posted its third consecutive loss as the losses in MTNN (-7.0%), WAPCO (-10.0%), and FIRSTHOLDCO (-6.8%) drove a 1.4% decline in the All-Share Index to 243,132.61 points. Consequently, the Month-to-Date and Year-to-Date returns settled lower at -2.9% and +56.2%, respectively.
The total volume traded advanced by 57.1% to 922.97 million units, valued at NGN42.27 billion, and exchanged in 69,332 deals. STERLINGNG was the most traded stock by volume at 264.59 million units, while MTNN was the most traded stock by value at NGN17.61 billion.
Sectoral performance was broadly bearish as the Insurance (-2.8%), Industrial Goods (-1.6%), Banking (-1.5%), Consumer Goods (-0.3%) and Oil and Gas (-0.1%) indices declined.
As measured by market breadth, market sentiment was negative (0.3x), as 14 tickers gained relative to 43 losers. WAPCO (-10.0%) and ZICHIS (-9.8%) recorded the highest losses of the day, while ABBEYBDS (+9.9%) and INTENEGINS (+9.9%) led the gainers.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,363.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 2bps to 22.2%, following debits from OMO PMA (NGN3.04 trillion).
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 2bps to 17.5%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-2bps) segments due to the demand for the 92DTM (-1bp), 169DTM (-15bps) and 323DTM (-25bps) bills, respectively. Similarly, the average yield contracted by 6bps to 20.9% in the OMO segment.
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 following selloffs of the MAR-2027 (+113bps), JUN-2033 (+9bps) and JUN-2038 (+38bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
