September 22, 2026/Cordros Report
EQUITIES
The Nigerian equities market closed on a bullish note for the ninth consecutive trading session, as gains in DANGCEM (+1.7%), STANBIC (+7.1%), ZENITHBANK (+2.6%), and HBMNG (+1.8%) caused the All-Share index to close higher by 0.2% to 250,614.66 points. Consequently, the Month-to-Date and Year-to-Date returns edged higher to +2.6% and +61.1%, respectively.
The total volume traded advanced by 45.8% to 837.26 million units, valued at NGN48.57 billion, and exchanged in 52,126 deals. FIDELITYBK was the most traded stock by volume at 105.65 million units, while ZENITHBANK was the most traded stock by value at NGN13.73 billion.
Sectoral performance was broadly positive, as the Banking (+2.5%), Industrial Goods (+1.2%), and Consumer Goods (+0.1%) indices advanced while the Insurance (-0.2%) index declined. The Oil & Gas index closed flat.
As measured by market breadth, market sentiment was positive (1.4x), as 36 tickers gained relative to 26 losers. SOVRENINS (+10.0%) and CMFC (+9.8%) led the gainers, while MULTIVERSE (-9.9%) and HMCALL (-9.4%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.2% to NGN1,328.12/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 3bps to 22.3%, despite inflows from OMO maturities (NGN2.27 trillion).
Activities in the Treasury bill secondary market were calm albeit with a bullish undertone, 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 (-1bp) segments, driven by demand for the 86DTM (-1bp), 177DTM (-1bp) and 352DTM (-1bp) bills, respectively. Similarly, the average yield contracted by 1bp to 20.1% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note as the average yield contracted by 2bps to 16.2%. Across the benchmark curve, the average yield contracted at the mid (-3bps) and long (-3bps) segments, driven by buying interests in the JUN-2033 (-13bps) and JAN-2042 (-12bps) bonds, respectively. The average yield remained unchanged at the short end.
Kindly see below our Mutual Fund prices and returns as of today.
