July 2, 2026/Cordros Report
EQUITIES
The domestic equities market closed on a bearish note as losses in WAPCO (-6.5%), FIRSTHOLDCO (-8.2%) and ZENITHBANK (-3.0%) caused a 0.6% decline in the All-Share Index to 224,321.97 points. Consequently, the Month-to-Date and Year-to-Date returns moderated to -2.2% and +44.2%, respectively.
The total volume traded increased by 95.5% to 855.40 million units, valued at NGN28.42 billion, and exchanged in 51,609 deals. STERLINGNG was the most traded stock by volume at 459.59 million units, while ARADEL was the most traded stock by value at NGN4.51 billion.
On Sectors, performance was negative as the Insurance (-2.5%), Banking (-2.2%), Industrial Goods (-1.0%), Oil & Gas (-0.2%) and Consumer Goods (-0.1%) indices closed lower.
As measured by market breadth, market sentiment was negative (0.4x), as 12 tickers gained relative to 31 losers. GUINEAINS (-10.0%) and INTENEGINS (-9.8%) led the losers, while AUSTINLAZ (+10.0%) and LEARNAFRCA (+10.0%) recorded the highest gains of the day.
CURRENCY
The official FX rate appreciated by 1.2% to NGN1,362.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 3bps to 22.2% in the absence of any significant funding pressures on the system.
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 4bps to 18.6%. Across the curve, the average yield contracted at the short (-7bps), mid (-3bps) and long (-3bps) segments, driven by demand for the 84DTM (-13bps), 98DTM (-13bps) and 189DTM (-21bps) bills, respectively. Meanwhile, the average yield remained unchanged at 21.7% in the OMO segment.
Elsewhere, activities in the FGN bond secondary market were bullish, as the average yield contracted by 3bps to 17.5%. Across the benchmark curve, the average yield contracted at the mid (-5bps) and long (-5bps) segments, driven by buying interests in the APR-2032 (-17bps) and JUN-2053 (-37bps) bills, respectively but closed flat at the short end.
Kindly see below our Mutual Fund prices and returns as of today.
