August 26, 2026/Cordros Report
EQUITIES
The Nigerian equities market closed today on a bearish note, as losses in ZENITHBANK (-2.1%), JAIZBANK (-7.7%), FIDSON (-10.0%), and OANDO (-3.0%) caused the All-Share index to close lower by 0.2% to 238,682.92 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -2.7% and +53.4%, respectively.
The total volume traded advanced by 9.7% to 733.35 million units, valued at NGN34.52 billion, and exchanged in 49,210 deals. FTGINSURE was the most traded stock by volume at 134.01 million units, while FIRSTHOLDCO was the most traded stock by value at NGN11.06 billion.
Sectoral performance was negative as the Insurance (-0.9%), Banking (-0.4%), Consumer Goods (-0.3%), and Oil & Gas (-0.1%) indices declined, while the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.4x), as 17 tickers gained relative to 41 losers. FIDSON (-10.0%) and FTNCOCOA (-9.9%) led the laggards, while NEIMETH (+9.7%) and NEM (+6.7%) posted the most significant gains of the day.
CURRENCY
The official FX rate appreciated by 0.3% to NGN1,343.47/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 1bp to 22.1% in the absence of any significant funding pressure on the system.
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 2bps to 18.9%. Across the curve, the average yield contracted at the short (-2bps), mid (-4bps) and long (-2bps) segments, driven by demand for the 85DTM (-2bps), 148DTM (-23bps) and 253DTM (-3bps) bills, respectively. Similarly, the average yield contracted by 8bps to 20.7% in the OMO segment.
The FGN bond secondary market traded on a quiet note albeit with a bullish tilt as the average yield contracted by 1bp to 16.6%. Across the benchmark curve, the average yield contracted at the short (-3bps) and long (-1bp) ends, driven by demand for the FEB-2031 (-6bps) and ARP-2037 (-8bps) bonds, respectively. The mid segment closed flat.
Kindly see below our Mutual Fund prices and returns as of today.
