June 16, 2026/Cordros Report
EQUITIES
The Nigerian equities market closed today’s trading session on a bearish note as losses in GTCO (-7.1%), ZENITHBANK (-2.8%), UBA (-3.7%) and FIRSTHOLDCO (-1.6%) dragged the All-Share Index lower by 0.5% to 241,984.80 points. Consequently, the Month-to-Date and Year-to-Date returns settled lower at -3.4% and +55.5%, respectively.
The total volume traded declined by 38.5% to 457.92 million units, valued at NGN27.23 billion, and exchanged in 50,332 deals. STERLINGNG was the most traded stock by volume at 100.90 million units, while UACN was the most traded stock by value at NGN9.12 billion.
Sectoral performance was broadly negative as the Banking (-3.0%), Consumer Goods (-0.5%) and Insurance (-0.1%) indices closed lower. The Industrial Goods index and Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative (0.6x), as 20 tickers gained relative to 36 losers. INTENEGINS (-10.0%) and VITAFOAM (-10.0%) led the laggards, while CONOIL (+9.8%) and PRESTIGE (+9.8%) posted the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 0.4% to NGN1,356.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 3bps to 22.3%, in the absence of any significant inflows into the system.
Activities in the Treasury bills secondary market were bearish, as the average yield expanded by 3bps to 17.8%. Across the curve, the average yield contracted at the short (-3bps) end, driven by demand for the 79DTM (-19bps) bill, but expanded at the mid (+8bps) and long (+3bps) segments, due to profit-taking activities on the 93DTM (+33bps) and 268DTM (+38bps) bills, respectively. Meanwhile, the average yield contracted by 73bps at 20.2% in the OMO segment.
The FGN bond secondary market traded on a bullish note as the average yield contracted by 3bps at 16.5%. Across the benchmark curve, the average yield contracted at the short (-30bps) end, driven by demand for the MAR-2027 (-123bps) bond, but expanded at the mid (+2bps) and long (+15bps) segments, due to profit-taking activities on the JUN-2033 (+57bps) and MAR-2050 (+22bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
