September 17, 2026/Cordros Report
EQUITIES
The Nigerian equities market closed today’s session on a positive note as gains in BUACEMENT (+10.0%) and FIRSTHOLDCO (+5.0%) lifted the All-Share Index higher by 0.6%, to 246,315.38 points. Consequently, the Month-to-Date and Year-to-Date returns edged higher to +0.9% and +58.3%, respectively.
The total volume traded advanced by 67.8% to 1.11 billion units, valued at NGN46.02 billion, and exchanged in 54,102 deals. FIDELITYBK was the most traded stock by volume and value at 524.33 million units and NGN10.30 billion, respectively.
Sectoral performance was broadly positive as the Industrial Goods (+2.9%), Insurance (+1.9%) and Banking (+1.2%) indices closed higher, while the Consumer Goods (-0.7%) index declined. The Oil & Gas index closed flat.
As measured by market breadth, market sentiment was positive (1.4x), as 33 tickers gained relative to 23 losers. UPDCREIT (+10.0%) and BETAGLAS (+10.0%) led the gainers, while LEGENDINT (-9.9%) and OMATEK (-9.7%) posted the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 0.2% to NGN1,332.70/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 11bps to 22.3%, in the absence of any significant inflows into the system.
Activities in the Treasury bills secondary market were bearish, as the average yield expanded by 5bps to 18.8%. Across the curve, the average yield contracted at the short (-1bp) end, due to demand for the 91DTM (-1bp) bill, while it expanded at the mid (+4bps) and long (+10bps) segments, driven by selloffs of the 182DTM (+56bps) and 315DTM (+46bps) bills, respectively. Likewise, the average yield expanded by 9bps to 20.2% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bearish note as the average yield expanded by 16bps to 16.4%. Across the benchmark curve, the average yield expanded at the short (+7bps) and long (+34bps) ends, due to sell pressures on the MAR-2027 (+56bps) and JAN-2042 (+135bps) bonds, respectively. The average yield closed flat at the mid segment.
Kindly see below our Mutual Fund prices and returns as of today.
