July 13, 2026/Cordros Report
EQUITIES
The Nigerian equities market kicked off the week on a bearish note as losses in BUACEMENT (-10.0%), FIRSTHOLDCO (-5.2%), ZENITHBANK (-3.3%) and GTCO (-1.4%) dragged the All-Share Index lower by 0.8% to 241,749.13 points. Consequently, the Month-to-Date and Year-to-Date returns settled lower at +5.4% and +55.4%, respectively.
The total volume traded advanced by 18.7% to 523.54 million units, valued at NGN22.27 billion, and exchanged in 59,945 deals. FCMB was the most traded stock by volume at 102.24 million units, while SEPLAT was the most traded stock by value at NGN3.62 billion.
Sectoral performance was broadly negative as the Industrial Goods (-3.3%), Insurance (-2.1%), Banking (-1.4%) and Oil & Gas (-0.8%) indices closed lower, while the Consumer Goods (+0.7%) index closed higher.
As measured by market breadth, market sentiment was negative (0.4x), as 18 tickers gained relative to 44 losers. PZ (-10.0%) and BUACEMENT (-10.0%) led the laggards, while NIDF (+10.0%) and INTBREW (+9.8%) posted the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 7bps to NGN1,381.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 14bps to 22.1%.
Activities in the Treasury bills secondary market were bullish, as the average yield contracted by 3bps to 18.4%. Across the curve, the average yield contracted at the short (-5bps) and long (-4bps) ends, driven by demand for the 52DTM (-27bps) and 360DTM (-17bps) bills, respectively, but expanded at the mid (+1bp) segment, due to profit-taking activities on the 178DTM (+19bps) bill. Meanwhile, the average yield contracted by 6bps at 21.5% in the OMO segment.
The FGN bond secondary market traded on a bearish note as the average yield expanded by 2bps to 17.4%. Across the benchmark curve, the average yield expanded at the short (+7bps) and long (+1bp) ends, due to profit-taking activities on the FEB-2031 (+15bps) and JUN-2053 (+4bps) bonds, but contracted at the mid (-2bps) segment, driven by demand for the JUL-2034 (-6bps) bond.
Kindly see below our Mutual Fund prices and returns as of today.
