July 16, 2026/Cordros Report
EQUITIES
The Nigerian equities traded on a bearish note, as losses in BUACEMENT (-10.0%), TRANSCORP (-0.8%) and CAP (-9.6%) caused the All-Share Index to close lower by 0.1% to 242,145.61 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +5.6% and +55.6%, respectively.
The total volume traded declined by 10.0% to 498.45 million units, valued at NGN34.87 billion, and exchanged in 39,484.00 deals. JAPAULGOLD was the most traded stock by volume at 77.66 million units, while SEPLAT was the most traded stock by value at NGN13.19 billion.
Sectoral performance was mixed as the Industrial Goods (-2.9%) index closed lower, while the Banking (+2.9%), Consumer Goods (+0.3%), Insurance (+0.2%) and Oil & Gas (+0.1%) indices advanced.
As measured by market breadth, market sentiment was positive (1.4x), as 27 tickers gained relative to 20 losers. BUACEMENT (-10.0%) and CAP (-9.6%) led the laggards, while FIRSTHOLDCO (+10.0%) and MCNICHOLS (+8.0%) recorded the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 0.1% to NGN1,385.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 9bps to 22.2% in the absence of any significant inflow into the system.
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 158bps to 16.8%. Across the curve, the average yield contracted at the short (-36bps), mid (-113bps) and long (-250bps) segments, driven by demand for the 84DTM (-61bps), 175DTM (-148bps) and 357DTM (-347bps) bills, respectively. Similarly, the average yield contracted by 3bps to 21.4% 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 mid (+2bps) and long (+1bp) segments, due to profit-taking activities on the MAR-2036 (+8bps) and APR-2049 (+9bps) bonds, respectively. The average yield at the short end remained unchanged.
Kindly see below our Mutual Fund prices and returns as of today.
