June 29, 2026/Cordros Report
EQUITIES
The domestic bourse market opened the week on a bearish note, as selloffs of MTNN (-10.0%), WAPCO (-2.3%), UNILEVER (-10.0%) and FIRSTHOLDCO (-2.5%) caused the All-Share Index to close lower by 1.6% to 228,401.92 points. Consequently, the Month-to-Date and Year-to-Date returns settled lower at -8.8% and +46.8%, respectively.
The total volume traded advanced by 156.4% to 996.47 million units, valued at NGN43.73 billion, and exchanged in 61,813 deals. IKEJAHOTEL was the most traded stock by volume and value at 305.54 million units and NGN13.21 billion, respectively.
Sectoral performance was negative as the Insurance (-1.3%), Banking (-1.2%), Consumer Goods (-0.6%), Industrial Goods (-0.4%) and Oil and Gas (-0.1%) indices declined.
As measured by market breadth, market sentiment was negative (0.3x), as 12 tickers gained relative to 45 losers. LEARNAFRCA (-10.0%) and MTNN (-10.0%) led the laggards, while UPDC (+9.2%) and SOVRENINS (+4.1%) posted the most significant gains of the day.
CURRENCY
The official FX rate appreciated by 1.3% to NGN1,365.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 5bps to 22.2% in the absence of any significant funding pressure on the system.
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 3bps to 18.6%. Across the curve, the average yield contracted at the short (-5bps) and mid (-10bps) segments, driven by demand for the 52DTM (-23bps) and 164DTM (-25bps) bills, respectively, but expanded at the long (+1bp) end, due to selloffs of the 297DTM (+35bps) bill. Meanwhile, the average yield expanded by 5bps to 21.6% in the OMO segment.
The FGN bond secondary market closed on a bearish note, as the average yield expanded by 14bps to 17.3%. Across the benchmark curve, the average yield expanded at the short (+16bps) and long (+22bps) ends, due to profit-taking activities on the FEB-2031 (+39bps) and JUN-2038 (+186bps) bonds, respectively. The average yield contracted at the mid (-1bp) segment, driven by demand for the JUN-2033 (-7bps) bond.
Kindly see below our Mutual Fund prices and returns as of today.
