August 24, 2026/Cordros Report
EQUITIES
The Nigerian equities market commenced the week on a bearish note, weighed down by losses across major banking tickers. The decline in performance was driven by FIRSTHOLDCO (-1.6%), FIDELITYBK (-6.0%), UBA (-1.4%), and WEMABANK (-1.2%), which dragged the All-Share Index 0.1% lower to 239,085.17 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -2.5% and +53.6%, respectively.
The total volume traded advanced by 60.5% to 668.72 million units, valued at NGN23.83 billion, and exchanged in 45,894 deals. FTGINSURE was the most traded stock by volume at 206.72 million units, while FIRSTHOLDCO was the most traded stock by value at NGN7.90 billion, respectively.
Analysing by sector, the Banking (0.6%) and Insurance (-0.5%) indices closed lower, while the Consumer Goods, Industrial Goods and Oil & Gas indices remained unchanged.
As measured by market breadth, market sentiment was negative (0.6x), as 18 tickers gained relative to 32 losers. INTENEGINS (-9.8%) and NEIMETH (-9.4%) led the laggards, while REDSTAREX (+9.9%) and UPL (+9.4%) posted the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 3bps to NGN1,348.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate closed flat at 22.1% 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 32bps to 18.9%. Across the curve, the average yield expanded at the short (+72bps) and mid (+41bps) segments, driven by selloffs of the 87DTM (+125bps) and 136DTM (+117bps) bills, respectively, but contracted at the long (-5bps) end, due to demand for the 192DTM (-21bps) bill. Meanwhile, the average yield contracted by 6bps to 20.7% in the OMO segment.
Elsewhere, the FGN bond secondary market settled flat at 16.6%.
Kindly see below our Mutual Fund prices and returns as of today.
