August 31, 2026/Cordros Report
EQUITIES
The Nigerian equities market kicked off the week on a bullish note, buoyed by gains in MTNN (+4.3%), ZENITHBANK (+5.3%), GTCO (+3.1%), ARADEL (+3.1%) and ETI (+9.0%), which drove the All-Share Index higher by 1.2% to 244,199.50 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -0.4% and +56.9%, respectively.
The total volume traded expanded by 0.2% to 606.19 million units, valued at NGN38.70 billion, and exchanged in 53,471 deals. ACCESSCORP was the most traded stock by volume at 126.54 million units, while MTNN was the most traded stock by value at NGN5.72 billion, respectively.
Analysing by sector, the Banking (+3.1%), Consumer Goods (+1.7%), Oil & Gas (+1.4%) and Insurance (+0.9%) indices advanced, while the Industrial Goods (-0.7%) index declined.
As measured by market breadth, market sentiment was positive (2.9x), as 43 tickers gained relative to 15 losers. OMATEK (+10.0%) and IKEJAHOTEL (+10.0%) posted the most significant gains of the day, while ABBEYBANK (-9.4%) and AVACAP (-7.7%) led the laggards.
CURRENCY
The official FX rate appreciated by 0.4% to NGN1,332.83/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 9bps 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 5bps to 18.9%. Across the curve, the average yield contracted at the short (-4bps), mid (-11bps) and long (-22bps) segments, driven by demand for the 87DTM (-20bps), 108DTM (-161bps) and 311DTM (-59bps) bills, respectively. Similarly, the average yield contracted by 3bps to 20.3% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bearish note as the average yield expanded by 2bps to 16.6%. Across the benchmark curve, the average yield expanded at the short (+3bps) and mid (+3bps) segments, driven by selloffs of the FEB-2031 (+10bps) and JUN-2033 (+10bps) bonds, respectively. Meanwhile, the average yield at the long end closed flat.
Kindly see below our Mutual Fund prices and returns as of today.
