July 8, 2026/Cordros Report
Equities
Bullish sentiments persisted in the domestic bourse as gains in AIRTELAFRI (+10.0%), ARADEL (+8.7%), DANGCEM (+3.2%) and WAPCO (+2.1%) caused the All-Share Index to close higher by 2.3% to 242,465.07 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +5.7% and +55.8%, respectively.
The total volume traded declined by 13.2% to 428.34 million units, valued at NGN20.33 billion, and exchanged in 46,888 deals. LASACO was the most traded stock by volume at 56.60 million units, while ARADEL was the most traded stock by value at NGN4.20 billion.
Sectoral performance was broadly positive as the Oil & Gas (+3.9%), Industrial Goods (+1.9%), Banking (+1.1%) and Consumer Goods (+0.3%) indices advanced, while the Insurance (-0.2%) index declined.
As measured by market breadth, market sentiment was positive (1.6x), as 33 tickers gained relative to 21 losers. TRANSEXPR (+10.0%) and AIRTELAFRI (+10.0%) led the gainers, while HMCALL (-10.0%) and MCNICHOLS (-8.9%) recorded the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 0.2% to NGN1,381.00/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 4bps to 18.5%. Across the curve, the average yield contracted at the short (-1bp), mid (-2bps) and long (-6bps) segments, driven by demand for the 92DTM (-1bp), 155DTM (-14bps) and 183DTM (-33bps) bills, respectively. Similarly, the average yield contracted by 1bp to 21.6% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note albeit with a bearish tilt as the average yield expanded by 1bp to 17.4%. Across the benchmark curve, the average yield expanded at the short (+4bps) end, due to profit-taking activities on the MAR-2027 (+71bps) bond, but contracted at the long (-1bp) end, driven by the demand for the APR-2037 (-10bps) bond. Meanwhile, the mid segment closed on a flat note.
Kindly see below our Mutual Fund prices and returns as of today.
