July 23, 2026/Cordros Report
EQUITIES
The Nigerian equities market closed today on a positive note as gains in BUACEMENT (+4.5%), FIRSTHOLDCO (+9.9%), HBMNG (+4.3%) and ZENITHBANK (+4.4%) spurred a 1.0% increase in the All-Share Index to 247,832.97 points. Consequently, the Month-to-Date and Year-to-Date returns edged higher to +8.0% and +59.3%, respectively.
The total volume traded declined by 34.5% to 782.35 million units, valued at NGN56.30 billion, and exchanged in 46,273 deals. FIRSTHOLDCO was the most traded stock by volume and value at 106.40 million units and NGN12.49 billion, respectively.
Sectoral performance was positive as the Banking (+3.9%), Industrial Goods (+1.3%), Insurance (+0.8%) and Consumer Goods (+0.6%) indices advanced, while the Oil & Gas index closed flat.
As measured by market breadth, market sentiment was positive (1.3x), as 35 tickers gained relative to 27 losers. GUINNESS (+10.0%) and ACCESSCORP (+10.0%) led the gainers, while MECURE (-10.0%) and FTNCOCOA (-9.2%) recorded the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,368.07/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 2bps to 22.2% in the absence of any significant funding pressures on the system.
The Treasury bill secondary market traded on a bullish note, as the average yield contracted by 4bps to 18.3%. Across the curve, the average yield contracted at the mid (-3bps) and long (-7bps) segments driven by demand for the 140DTM (-8bps) and 231DTM (-31bps) bills, respectively but remained unchanged at the short end. Similarly, the average yield contracted by 1bp to 21.4% in the OMO segment.
Elsewhere, activities in the FGN bond secondary market were bullish as the average yield contracted by 8bps to 17.2%. Across the curve, the average yield expanded at the short (+5bps) end driven by selloffs of the MAR-2027 (+37bps) bond but contracted at the mid (-17bps) and long (-12bps) segments due to buying interests in the JUL-2034 (-27bps) and JUN-2038 (-48bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
