September 14, 2026/Cordros Report
EQUITIES
The Nigerian equities market kicked off the week on a bullish note, as gains in FIRSTHOLDCO (+3.7%), NESTLE (+3.6%), CUSTODIAN (+7.1%), NGXGROUP (+10.0%) and FIDELITYBK (+5.3%) drove the All-Share Index higher by 0.1% to 243,299.23 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -0.4% and +56.4%, respectively.
The total volume traded declined by 22.4% to 428.97 million units, valued at NGN20.52 billion, and exchanged in 54,592 deals. STERLINGNG was the most traded stock by volume at 78.05 million units, while ARADEL was the most traded stock by value at NGN2.48 billion.
Sectoral performance was mixed as the Banking (+0.7%) index advanced, while the Insurance (-0.5%), Consumer Goods (-0.2%) and Oil & Gas (-0.1%) indices declined. The Industrial Goods closed flat.
As measured by market breadth, market sentiment was negative (0.7x), as 20 tickers gained relative to 28 losers. NGXGROUP (+10.0%) and ROYALEX (+10.0%) led the gainers, while JOHNHOLT (-10.0%) and DAARCOOM (-9.8%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,326.55/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 16bps to 22.3% 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 (-9bps) and long (-5bps) segments, driven by demand for the 80DTM (-3bps), 157DTM (-68bps) and 332DTM (-19bps) bills, respectively. Similarly, the average yield contracted by 14bps to 20.2% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note as the average yield contracted by 1bp to 16.3%. Across the benchmark curve, the average yield contracted at the short (-2bps), mid (-2bps) and long (-1bp) segments, driven by demand for the FEB-2031 (-5bps), JAN-2035 (-10bps) and APR-2037 (-5bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
