September 9, 2026/Cordros Report
EQUITIES
The local bourse remained under pressure today, as sell-offs in BUACEMENT (-10.0%), NESTLE (-6.5%), NB (-9.8%) and TRANSCORP (-5.6%) dragged the All-Share Index lower by 1.1% to 242,223.09 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -0.8% and +55.7%, respectively.
The total volume traded declined by 29.0% to 534.45 million units, valued at NGN22.28 billion, and exchanged in 46,943 deals. STERLINGNG was the most traded stock by volume at 78.11 million units, while NESTLE was the most traded stock by value NGN3.20 billion.
Sectoral performance was negative, as the Industrials Goods (-3.1%), Insurance (-3.1%), Consumer Goods (-2.1%), Banking (-0.5%) and Oil & Gas (-0.2%) indices declined.
As measured by market breadth, market sentiment was negative (0.3x), as 11 tickers gained relative to 44 losers. JAPAULGOLD (-10.0%) and ZICHIS (-10.0%) led the losers, while CHAMPION (+9.9%) and VFDGROUP (+9.5%) posted the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 0.7% to NGN1,329.03/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 10bps to 22.3% 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 1bp to 18.8%. Across the curve, the average yield contracted at the short (-1bp), mid (-1bp) and long (-2bps) segments, driven by demand for the 92DTM (-1bp), 176DTM (-1bp) and 358DTM (-16bps) bills, respectively. Similarly, the average yield contracted by 12bps to 20.4% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note as the average yield contracted by 3bps to 16.3%. Across the benchmark curve, the average yield contracted at the short (-8bps), mid (-1bp), and long (-1bp) segments, driven by demand for APR-2029 (-54bps), MAR-2036 (-2bps), JUL-2045 (-17bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
