August 27, 2026/Cordros Report
EQUITIES
Bullish sentiments resurfaced in the local bouse today, as bargain hunting in banking tickers brought the 11 day bearish streak to a halt. The performance was driven by gains in FIRSTHOLDCO (+4.7%), UBA (+3.7%) and ACCESSCORP (+4.4%), which spurred a 0.2% increase in the All-Share Index to 239,156.09 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -2.5% and +53.7%, respectively.
The total volume traded declined by 31.8% to 499.96 million units, valued at NGN35.15 billion, and exchanged in 40,323 deals. ZENITHBANK was the most traded stock by volume and value at 69.95 million units and NGN8.20 billion, respectively.
Sectoral performance was mixed as the Banking (+1.6%) index closed higher, while the Consumer Goods (-0.2%) and Oil & Gas (-0.1%) indices declined. The Insurance and Industrial Goods indices closed flat.
As measured by market breadth, market sentiment was negative (0.5x), as 18 tickers gained relative to 39 losers. OMATEK (+9.6%) and CORNEST (+9.2%) led the gainers, while FIDSON (-10.0%) and LEARNAFRCA (-9.8%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.4% to NGN1,338.85/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 5bps to 22.1% in the absence of any significant funding pressures 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 (-1bp), mid (-1bp) and long (-4bps) segments driven by demand for the 84DTM (-1bp), 175DTM (-1bp) and 266DTM (-28bps) bills, respectively. Similarly, the average yield contracted by 27bps to 20.4% in the OMO segment.
Elsewhere, activities in the FGN bond secondary market were bullish as the average yield contracted by 4bps to 16.5%. Across the curve, the average yield contracted at the short (-13bps) end due to buying interest in the MAR-2027 (-29bps) bond but remained unchanged at the mid and long segments.
Kindly see below our Mutual Fund prices and returns as of today.
