September 8, 2026/Cordros Report
EQUITIES
Bearish sentiments dominated the local bourse today as sell pressures in FIRSTHOLDCO (-9.3%), MTNN (-2.4%), ZENITHBANK (-3.9%) and TRANSCORP (-5.4%) dragged the All-Share Index lower by 1.2% to 244,802.11 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +0.3% and +57.3%, respectively.
The total volume traded advanced by 84.6% to 753.317 million units, valued at NGN27.82 billion, and exchanged in 54,051 deals. NEM was the most traded stock by volume and value at 131.73 million units and NGN4.07 billion, respectively.
Sectoral performance was negative, as the Banking (-4.2%), Insurance (-2.8%), Consumer Goods (-0.3%), Industrial Goods (-0.2%) and Oil & Gas (-0.1%) indices declined.
As measured by market breadth, market sentiment was negative (0.1x), as 4 tickers gained relative to 63 losers. AVACAP (-10.0%) and FTGINSURE (-9.9%) led the losers, while ELLAHLAKES (+7.1%) and NGXGROUP (+1.4%) posted the most significant gains of the day.
CURRENCY
The official FX rate appreciated by 2bps to NGN1,320.28/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 3bps to 22.2% 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 4bps to 18.8%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-8bps) segments, driven by demand for the 86DTM (-1bp), 93DTM (-4bps) and 212DTM (-24bps) bills, respectively. Similarly, the average yield contracted by 3bps to 20.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note as the average yield contracted by 13bps to 16.4%. Across the benchmark curve, the average yield contracted at the short (-6bps), mid (-5bps), and long (-25bps) segments, driven by demand for APR-2029 (-31bps), FEB-2034 (-15bps), and APR-2049 (-51bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
