June 22, 2026/Cordros Report
EQUITIES
The Nigerian equities market opened the week on a bullish note, as buying interest in MTNN (+3.8%), GTCO (+10.0%), ZENITHBANK (+7.1%) and FIRSTHOLDCO (+10.0%) drove the All-Share Index higher by 1.0% to 238,219.19 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at -4.9% and +53.1%, respectively.
The total volume traded advanced by 11.1% to 489.05 million units, valued at NGN36.71 billion, and exchanged in 63,567 deals. FIDELITYBK was the most traded stock by volume at 48.75 million units, while MTNN was the most traded stock by value at NGN16.64 billion.
Sectoral performance was mixed as the Banking (+4.6%) index advanced, while the Insurance (-1.4%), Consumer Goods (-0.4%) and Oil and Gas (-0.1%) indices declined. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.5x), as 17 tickers gained relative to 34 losers. FIRSTHOLDCO (+10.0%) and GTCO (+10.0%) led the gainers, while ZICHIS (-10.0%) and ETERNA (-9.9%) recorded the highest losses of the day.
CURRENCY
The official FX rate depreciated by 0.2% to NGN1,368.50/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 12bps to 22.3% due to OMO PMA debits (NGN2.67 trillion)
The Treasury bill secondary market traded on a quiet note, albeit with a bearish tilt as the average yield expanded by 1bp to 18.2%. Across the curve, the average yield contracted at the short (-5bps) end, driven by demand for the 87DTM (-23bps) bill, but expanded at the long (+5bps) end, due to selloffs of the 346DTM (+48bps) bill. The mid segment closed flat. Meanwhile, the average yield expanded by 8bps to 21.2% in the OMO segment.
The FGN bond secondary market closed on a bearish note, as the average yield expanded by 10bps to 16.7%. Across the benchmark curve, the average yield expanded at the short (+4bps), mid (+5bps) and long (+18bps) segments, due to profit-taking activities on the FEB-2031 (+13bps), JUN-2033 (+27bps) and JUN-2038 (+46bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
