July 22, 2026/Cordros Report
EQUITIES
The Nigerian equities market traded on bearish note as losses in BUAFOODS (10.0%), NESTLE (-10.0%), STANBIC (-2.3%) and UACN (-7.8%), caused the All-Share Index to close lower by 0.5% to 245,418.38 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +7.0% and +57.7%, respectively.
The total volume traded advanced by 28.1% to 1.19 billion units, valued at NGN112.56 billion, and exchanged in 45,732.00 deals. FIRSTHOLDCO was the most traded stock by volume and value at 736.04 million units and NGN80.81 billion, respectively.
Sectoral performance was mixed as the Consumer Goods (-5.0%) index declined, while the Insurance (+1.6%), Banking (+1.5%) and Industrial Goods (+0.8%) indices advanced. The Oil & Gas index closed flat.
As measured by market breadth, market sentiment was positive (1.3x), as 36 tickers gained relative to 27 losers. NESTLE (-10.0%) and BUAFOODS (-10.0%) led the laggards, while TRANSEXPR (+10.0%) and CADBURY (+10.0%) recorded the most significant gains of the day.
CURRENCY
The official FX rate appreciated by 0.5% to NGN1,369.24/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 5bps to 22.2% in the absence of any significant inflow into the system.
The Treasury bill secondary market traded on a quiet note albeit with a bullish undertone as the average yield contracted by 1bp at 18.3%. Across the curve, the average yield contracted at the short (-1bp) and long (-3bps) ends, driven by demand for the 78DTM (-22bps) and 232DTM (-16bps) bills, respectively, but expanded at the mid (+2bps) segment, due to selloffs of the 141DTM (+22bps) bill. Meanwhile, the average yield contracted by 7bps to 21.4% in the OMO segment.
The FGN bond secondary market closed on a bullish note as the average yield contracted by 4bps to 17.3%. Across the benchmark curve, the average yield contracted at the short (-8bps), mid (-1bp) and long (-1bp) segments, driven by buying interests in the ARP-2029 (-25bps), JUN-2033 (-5bps) and ARP-2049 (-5bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
