July 1, 2026/Cordros Report
Equities
The local bourse closed on a bearish note in today’s trading session, as losses in ARADEL (-10.0%), DANGCEM (-7.5%), ZENITHBANK (-4.5%) and TRANSCORP (-7.0%), dragged the All-Share Index lower by 1.6% to 225,690.06 points. Consequently, the Month-to-Date and Year-to-Date returns settled lower at -1.6% and +45.0%, respectively.
The total volume traded declined by 54.7% to 437.60 million units, valued at NGN12.73 billion, and exchanged in 45,068 deals. STERLINGNG was the most traded stock by volume at 124.62 million units, while ZENITHBANK was the most traded stock by value at NGN2.14 billion.
Sectoral performance was negative as the Oil & Gas (-4.4%), Industrial Goods (-3.7%), Banking (-1.5%) and Consumer Goods (-0.9%) indices declined, while the Insurance (+0.4%) index advanced.
As measured by market breadth, market sentiment was negative (0.6x), as 18 tickers gained relative to 30 losers. NEIMETH (-10.0%) and MCNICHOLS (-10.0%) led the laggards, while AUSTINLAZ (+10.0%) and GUINEAINS (+9.9%) recorded the most significant gains of the day.
Currency
The official FX rate depreciated by 0.2% to NGN1,378/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 3bps to 22.2% in the absence of any significant inflow into the system.
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 5bps to 18.7%. Across the curve, the average yield contracted at the short (-13bps), and long (-4bps) ends, driven by demand for the 64DTM (-30bps) and 309DTM (-21bps) bills, respectively, but expanded at the mid (+3bps) segment, due to selloffs of the 162DTM (+22bps) bill. Meanwhile, the average yield expanded by 1bp to 21.7% in the OMO segment.
Elsewhere, activities in the FGN bond secondary market were bearish as the average yield expanded by 10bps to 17.5%. Across the benchmark curve, the average yield contracted at the short (-21bps) end, driven by demand for the MAR-2027 (-110bps) bond, but expanded at the mid (+57bps) and long (+1bp) segments, due to sell pressures on the JUL-2034 (+107bps) and JUN-2053 (+24bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
