July 29, 2026/Cordros Report
EQUITIES
The Nigerian equities market closed today on a bearish note, as losses in HBMNG (-3.8%), FIRSTHOLDCO (-1.7%), GTCO (-1.9%) and ZENITHBANK (-1.6%) caused the All-Share Index to close lower by 0.4% to 246,980.17 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +7.7% and +58.7%, respectively.
The total volume traded advanced by 12.1% to 758.87 million units, valued at NGN33.79 billion, and exchanged in 55,251 deals. FCMB was the most traded stock by volume at 92.44 million units, while FIRSTHOLDCO was the most traded stock by value at NGN8.77 billion.
Sectoral performance was broadly negative as the Banking (-1.4%), Industrial Goods (-0.7%), Oil & Gas (-0.1%) and Consumer Goods (-0.1%) indices declined, while the Insurance (+2.7%) index advanced.
As measured by market breadth, market sentiment was negative (0.5x), as 21 tickers gained relative to 43 losers. LEGENDINT (-10.0%) and CORNERST (-10.0%) led the laggards, while LASACO (+10.0%) and NEM (+10.0%) posted the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 3bps to NGN1,364.85/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 6bps to 22.1% in the absence of any significant funding pressure on the system.
Activities in the Treasury bill secondary market were calm with a bearish undertone, as the average yield expanded by 1bp to 18.2%. Across the curve, the average yield expanded at the short (+1bp) and mid (+7bps) segments, due to profit taking activities on the 36DTM (+15bps) and 162DTM (+24bps) bills, respectively but contracted at the long (-3bps) end, driven by demand for the 351DTM (-21bps) bill. Elsewhere, the average yield in the OMO segment remained unchanged at 21.3%.
The FGN bond secondary market traded on a quiet note albeit with a bullish tilt, as the average yield contracted by 1bp to 17.0%. Across the benchmark curve, the average yield contracted at the short (-5bps) and mid (-1bp) segments, driven by buying interests in the MAR-2027 (-24bps) and JUN-2033 (-3bps) bonds, respectively but expanded at the long (+1bp) end, driven by selloffs of the JUN-2038 (+7bps) bond.
Kindly see below our Mutual Fund prices and returns as of today.
