June 8, 2026/Cordros Report
EQUITIES
The Nigerian equities markets kicked off the week on a bullish note as gains in MTNN (+1.9%), FIRSTHOLDCO (+2.6%) and OANDO (+7.9%) drove the All-Share Index higher by 0.1% to 243,510.75 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at -2.8% and +56.5%, respectively.
The total volume traded increased by 17.9% to 717.16 million units, valued at NGN56.66 billion, and exchanged in 73,321 deals. FCMB was the most traded stock by volume at 157.80 million units, while DANGCEM was the most traded stock by value at NGN29.77 billion.
On Sectors, the Oil & Gas (+0.9%), Insurance (+0.6%) and Banking (+0.6%) indices advanced, while the Consumer Goods (-1.3%) index closed lower. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.1x), as 31 tickers gained relative to 29 losers. INTENEGINS (+9.9%) and TIP (+9.9%) led the gainers, while FIDSON (-10.0%) and ACADEMY (-9.7%) recorded the highest losses of the day.
CURRENCY
The official FX rate depreciated by 0.8% to NGN1,367.50/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 2bps to 22.2% in the absence of any significant inflows into the system.
The Treasury bill secondary market traded on a bearish note, as the average yield expanded by 5bps to 17.6%. Across the curve, the average yield expanded at the short (+21bps) and long (+2bps) ends, driven by profit-taking activities on the 31DTM (+43bps) and 185DTM (+38bps) bills, but contracted at the short (-3bps) end, due to the demand for the 122DTM (-28bps) bill. Similarly, the average yield expanded by 8bps to 21.0% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bearish note, as the average yield expanded by 32bps to 16.3%. Across the benchmark curve, the average yield expanded at the short (+33bps), mid (+10bps) and long (+44bps) segments, due to sell pressures in the APR-2029 (+61bps), APR-2032 (+37bps) and JUN-2038 (+116bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
