September 3, 2026/Cordros Report
EQUITIES
The Nigerian equities market closed today on a bullish note, driven by gains in SEPLAT (+10.0%), MTNN (+0.1%), ZENITHBANK (+0.3%) and DANGSUGAR (+1.4%), which drove the All-Share Index higher by 0.2% to 246,388.22 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +0.9% and +58.3%, respectively.
The total volume traded expanded by 1.7% to 434.02 million units, valued at NGN29.30 billion, and exchanged in 42,303 deals. UBA was the most traded stock by volume and value at 113.26 million units and NGN5.23 billion, respectively.
Sectoral performance was broadly negative as the Insurance (-2.0%), Banking (-0.3%) and Consumer Goods (-0.2%) indices declined, while the Oil & Gas (+2.2%) index advanced. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.7x), as 22 tickers gained relative to 33 losers. SEPLAT (+10.0%) and UPDCREIT (+9.9%) led the gainers, while RTBRISCOE (-10.0%) and CMFC (-9.9%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.9% to NGN1,316.40/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 2bps to 22.2%, in the absence of any significant inflows into the system.
The Treasury bill secondary market traded on a bullish note as the average yield contracted by 3bps to 18.8%. Across the curve, the average yield contracted at the short (-2bps), mid (-3bps) and long (-5bps) segments, driven by demand for the 84DTM (-2bps), 182DTM (-11bps) and 343DTM (-27bps) bills, respectively. Similarly, the average yield contracted by 2bps to 20.6% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a quiet note albeit with a bearish tilt as the average yield expanded by 1bp to 16.5%. Across the benchmark curve, the average yield expanded at the short (+5bps) end, driven by selloffs of the APR-2029 (+20bps) bond, but contracted at the mid (-3bps) and long (-4bps) segments, driven by buying interests in the JAN-2035 (-12bps) and JUN-2038 (-12bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
