August 3, 2026/Cordros Report
EQUITIES
The local bourse market started the week on a bullish note, as gains in MTNN (+1.0%), FIRSTHOLDCO (+3.4%), HBMNG (+1.2%) and UBA (+3.4%) drove the All-Share Index higher by 0.2% to 245,730.53 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +0.2% and +57.9%, respectively.
The total volume traded declined by 2.1% to 923.01 million units, valued at NGN37.85 billion, and exchanged in 72,544 deals. ACCESSCORP was the most traded stock by volume at 166.64 million units while ARADEL was the most traded stock by value at NGN4.59 billion, respectively.
Sectoral performance was mixed as the Banking (+0.8%) and Industrial Goods (+0.2%) indices advanced while the Insurance (-1.8%), Consumer Goods (-0.2%) and Oil & Gas (-0.1%) indices closed lower.
As measured by market breadth, market sentiment was negative (0.6x), as 23 tickers gained relative to 39 losers. CAVERTON (+10.0%) and ETERNA (+10.0%) led the gainers, while ETI (-10.0%) and CADBURY (-9.9%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.3% to NGN1,365.02/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 1bp to 22.2% in the absence of any significant inflows into the system.
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 7bps to 18.2%. Across the curve, the average yield contracted at the short (-2bps), mid (-1bp) and long (-15bps) segments, driven by demand for the 87DTM (-2bps), 122DTM (-8bps) and 304DTM (-43bps) bills, respectively. Conversely, the average yield expanded by 5bps to 21.4% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note as the average yield contracted by 17bps to 16.7%. Across the benchmark curve, the average yield contracted at the short (-36bps), mid (-7bps) and long (-7bps) segments, driven by buying interests in the MAR-2027 (-126bps), MAR-2035 (-19bps) and JUN-2038 (-32bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
