July 7, 2026/Cordros Report
Equities
The local bourse extended its bullish momentum as gains in DANGCEM (+5.4%), MTNN (+2.6%), WAPCO (+4.8%), TRANSCORP (+6.1%) and FIRSTHOLDCO (+4.4%) caused the All-Share Index to close higher by 1.2% to 237,083.28 points. Consequently, the Month-to-Date and Year-to-Date returns edged higher to +3.3% and +52.4%, respectively.
The total volume traded declined by 1.0% to 493.67 million units, valued at NGN28.02 billion, and exchanged in 49,969 deals. ZENITHBANK was the most traded stock by volume and value at 94.29 million units and NGN9.91 billion, respectively.
On sectors, performance was positive as the Industrial Goods (+3.4%), Insurance (+1.2%), Oil & Gas (+0.6%), Consumer Goods (+0.5%) and Banking (+0.1%) indices advanced.
As measured by market breadth, market sentiment was positive (3.3x), as 53 tickers gained relative to 16 losers. CADBURY (+10.0%) and NAHCO (+10.0%) led the gainers, while CMFC (-10.0%) and TRANSEXPR (-10.0%) posted the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 0.5% to NGN1,378.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 3bps to 22.2%, following inflows from OMO maturities (NGN2.21 trillion).
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 2bps to 18.5%. Across the curve, the average yield expanded at the short (+2bps) and mid (+4bps) segments driven by sell pressures on the 58DTM (+13bps) and 93DTM (+11bps) bills, respectively but contracted at the long (-7bps) end due to demand for the 198DTM (-33bps) bill. Similarly, the average yield contracted by 8bps to 21.7% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note as the average yield remained unchanged at 17.4%. Across the curve, the average yield expanded at the short (+1bp) end due to profit taking activities on the FEB-2031 (+4bps) bond, but contracted at the mid (-2bps) and long (-1bp) segments driven by demand for the APR-2032 (-10bps) and JUN-2038 (-8bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
