July 9, 2026/Cordros Report
EQUITIES
The bulls continued to dominate the Nigerian equities market as buying interest in MTNN (+3.9%), FIRSTHOLDCO (+10.0%) and ZENITHBANK (+3.3%) spurred a 0.6% increase in the All-Share Index to 243,958.73 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +6.3% and +56.8%, respectively.
The total volume traded advanced by 286.64% to 1.66 billion units, valued at NGN111.98 billion, and exchanged in 44,780 deals. FIRSTHOLDCO was the most traded stock by volume and value at 1.26 billion units and NGN85.61 billion respectively.
Sectoral performance was mixed as the Banking (+1.3%), Consumer Goods (+1.2%) and Insurance (+0.3%) Indices closed higher, while the Oil & Gas (-0.2%) index closed lower. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was positive (1.2x), as 27 tickers gained relative to 23 losers. INTBREW (+10.0%) and FIRSTHOLDCO (+10.0%) posted the most significant gains of the day, while THOMASWY (-10.0%) and GEREGU (-10.0%) led the laggards.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,379.35/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 7bps to 22.2% in the absence of any significant inflow into the system.
Activities in the Treasury bills secondary market were bullish, as the average yield contracted by 5bps to 18.5%. Across the curve, the average yield contracted at the short (-3bps), mid (-13bps) and long (-2bps) segments, due to the demand for the 91DTM (-21bps), 182DTM (-56bps) and 329DTM (-11bps) bills, respectively. Similarly, the average yield contracted by 1bp to 21.6% in the OMO segment.
The FGN bond secondary market closed on a bullish note as the average yield contracted by 7bps to 17.4%. Across the benchmark curve, the average yield contracted at the short (-7bps) and mid (-15bps) segments, driven by buying interests in the MAR-2027 (-35bps) and MAR-2035 (-31bps) bills, respectively. The average yield remained unchanged at the long end.
Kindly see below our Mutual Fund prices and returns as of today.
