August 17, 2026/Cordros Report
EQUITIES
The domestic bourse commenced the week on a bearish note, as losses in STANBIC (-3.2%), NEM (-8.8%), ZENITHBANK (-0.3%) and UBA (-0.8%) dragged the All-Share Index lower by 0.1% to 242,454.65 points. Consequently, the Month-to-Date and Year-to-Date returns settled lower at -1.2% and +55.8%, respectively.
The total volume traded declined by 5.9% to 1.33 billion units, valued at NGN22.93 billion, and exchanged in 45,494 deals. LASACO was the most traded stock by volume at 730.69 million units, while MTNN was the most traded stock by value at NGN7.30 billion, respectively.
Sectoral performance was broadly negative as the Insurance (-1.5%), Oil & Gas (-0.7%) and Banking (-0.5%) indices declined, while the Consumer Goods (+0.4%) index advanced. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.5x), as 21 tickers gained relative to 37 losers. RTBRISCOE (-9.9%) and FTGINSURE (-9.9%) led the laggards, while TRANSEXPR (+9.9%) and AVACAP (+9.7%) posted the most significant gains of the day.
CURRENCY
The official FX rate appreciated by 0.6% to NGN1,350.22/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 6bps to 22.2% in the absence of any significant funding pressure on the system.
The Treasury bill secondary market traded on a bearish note as the average yield expanded by 8bps to 18.6%. Across the curve, the average yield expanded at the short (+24bps) and long (+4bps) end, driven by selloffs of the 52DTM (+73bps) and 234DTM (+39bps) bills, respectively, while the mid (-3bps) segment contracted due to demand for the 115DTM (-12bps) bill. Similarly, the average yield expanded by 4bps to 21.2% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note as the average yield contracted by 4bps to 16.8%. Across the benchmark curve, the average yield contracted at the short (-6bps), mid (-5bps) and long (-3bps) segments, driven by demand for the FEB-2031 (-20bps), JUN-2033 (-19bps) and APR-2037 (-22bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
