September 7, 2026/Cordros Report
EQUITIES
The Nigerian equities market kicked off the week on a bullish note, buoyed by gains in MTNN (+2.5%), ARADEL (+5.3%), INTBREW (+3.0%), MBENEFIT (+1.0%) and SOVRENINS (+2.2%), which drove the All-Share Index higher by 0.3% to 247,699.78 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +1.4% and +59.2%, respectively.
The total volume traded declined by 81.8% to 407.85 million units, valued at NGN27.25 billion, and exchanged in 52,322 deals. ACCESSCORP was the most traded stock by volume at 40.04 million units, while ARADEL was the most traded stock by value at NGN7.59 billion, respectively.
Sectoral performance was mixed as the Oil & Gas (+2.2%) index advanced, while the Insurance (-1.2%), Banking (-0.7%) and Consumer Goods (-0.1%) indices declined. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.3x), as 42 tickers gained relative to 12 losers. ARADEL (+5.4%) and NSLTECH (+4.3%) led the gainers, while CAVERTON (-10.0%) and OMATEK (-10.0%) posted the most significant losses of the day.
CURRENCY
The official FX rate closed flat at NGN1,320.60/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 5bps 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 5bps to 18.8%. Across the curve, the average yield contracted at the short (-3bps), mid (-3bps) and long (-9bps) segments, driven by demand for the 87DTM (-3bps), 178DTM (-3bps) and 283DTM (-35bps) bills, respectively. Similarly, the average yield contracted by 4bps to 20.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bearish note as the average yield expanded by 6bps to 16.5%. Across the benchmark curve, the average yield expanded at the short (+22bps) and long (+2bps) ends, driven by selloffs of the MAR-2027 (+194bps) and JUN-2038 (+7bps) bonds, respectively. The average yield contracted at the mid (-8bps) segment due to demand for the MAR-2036 (-27bps) bond.
Kindly see below our Mutual Fund prices and returns as of today.
