August 19, 2026/Cordros Report
EQUITIES
The bears continued to dominate the local bourse, with the NGX ASI closing lower for the seventh consecutive trading session. Today’s performance was driven by losses in ARADEL (-10.0%), INTBREW (-3.8%), NGXGROUP (-2.3%), and ETI (-0.4%), which dragged the All-Share index 0.4% lower to 240,750.47 points. Consequently, the Month-to-Date and Year-to-Date returns settled at 1.9% and +54.7%, respectively.
The total volume traded advanced by 177.7% to 1.19 billion units, valued at NGN37.82 billion, and exchanged in 34,546 deals. FTGINSURE was the most traded stock by volume at 610.68 million units, while MTNN was the most traded stock by value at NGN8.12 billion.
Sectoral performance was mixed as the Oil & Gas (-4.6%), Insurance (-0.9%), and Consumer Goods (-0.3%) indices declined, while the Banking (+0.5%) index advanced. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was neutral (1.0x), as 27 tickers gained relative to 27 losers. INTENEGINS (-10.0%) and ARADEL (-10.0%) led the laggards, while HMCALL (+10.0%) and UACN (+6.6%) posted the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 1bp to NGN1,350.57/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 17bps to 22.4% in the absence of any significant inflow into the system.
Activities in the Treasury bill secondary market were calm albeit with a bullish undertone, as the average yield contracted by 1bp to 18.6%. Across the curve, the average yield contracted at the short (-1bp), and long (-1bp) ends, driven by demand for the 85DTM (-1bp) and 183DTM (-23bps) bills, respectively, but remained unchanged at the mid segment. Meanwhile, the average yield contracted by 11bps to 21.0% in the OMO segment.
The FGN bond secondary market traded on a bullish note as the average yield contracted by 11bp to 16.6%. Across the benchmark curve, the average yield contracted at the short (-35bps) and mid (-1bp) segments, driven by demand for the MAR-2027 (-193bps) and MAR-2035 (-4bps) bonds, respectively, but expanded at the long (+1bp) end, driven by profit taking activities on the ARP-2037 (+7bps) bond.
Kindly see below our Mutual Fund prices and returns as of today.
