July 20, 2026/Cordros Report
EQUITIES
The domestic bourse market opened the week on a bullish note, as gains in BUACEMENT (+10.0%), FIRSTHOLDCO (+10.0%), UBA (+6.4%), ZENITHBANK (+2.4%) and CUSTODIAN (+10.0%) drove the All-Share Index higher by 1.1% to 246,183.96 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +7.3% and +58.2%, respectively.
The total volume traded advanced by 22.1% to 837.38 million units, valued at NGN48.88 billion, and exchanged in 56,379 deals. FIRSTHOLDCO was the most traded stock by volume and value at 203.94 million units and NGN21.52 billion, respectively.
Sectoral performance was broadly positive as the Banking (+3.1%), Industrial Goods (+2.8%), Insurance (+0.3%) and Oil and Gas (+0.1%) indices advanced while the Consumer Goods index closed flat.
As measured by market breadth, market sentiment was neutral (1.0x), as 31 tickers gained relative to 30 losers. CUSTODIAN (+10.0%) and NEM (+10.0%) led the gainers, while SUNUASSUR (-10.0%) and TRIPPLEG (-9.8%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 2.5% to NGN1,350.00/USD
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 5bps to 22.2% due to an FGN Bond PMA debit (NGN931.82 billion).
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 3bps to 18.4%. Across the curve, the average yield contracted at the short (-2bps), mid (-5bps) and long (-3bps) segments, driven by demand for the 87DTM (-2bps), 136DTM (-38bps) and 353DTM (-4bps) bills, respectively. Similarly, the average yield contracted by 4bps to 21.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note as the average yield remained unchanged at 17.4%.
Kindly see below our Mutual Fund prices and returns as of today.
