September 23, 2026/Cordros Report
EQUITIES
The domestic bourse extended its bullish run, closing positive for the third consecutive session this week, buoyed by gains in MTNN (+0.6%), ZENITHBANK (+2.3%), FIRSTHOLDCO (+1.4%), NASCON (+4.2%) and NAHCO (+7.7%), which drove the All-Share Index higher by 0.2% to 251,191.02 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +2.9% and +61.4%, respectively.
The total volume traded advanced by 89.9% to 1.59 billion units, valued at NGN45.82 billion, and exchanged in 49,836 deals. FTGINSURE was the most traded stock by volume at 860.31 million units, while GTCO was the most traded stock by value at NGN11.85 billion, respectively.
Sectoral performance was mixed as the Insurance (+1.1%), Banking (+0.9%), Consumer Goods (+0.2%) and Oil & Gas (+0.1%) indices advanced, while the Industrial Goods (-0.2%) index closed lower.
As measured by market breadth, market sentiment was positive (2.2x), as 43 tickers gained relative to 20 losers. ETERNA (+10.0%) and THOMASWY (+9.9%) led the gainers, while CAVERTON (-9.1%) and UPL (-9.0%) posted the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 4bps to NGN1,328.71/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 51bps to 21.8% 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 43bps to 18.4%. Across the curve, the average yield contracted at the short (-1bp), mid (-12bps) and long (-100bps) segments, driven by demand for the 85DTM (-1bp), 176DTM (-125bps) and 253DTM (-134bps) bills, respectively. Similarly, the average yield contracted by 14bps to 20.0% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bullish note as the average yield contracted by 36bps to 15.9%. Across the benchmark curve, the average yield contracted at the short (-43bps), mid (-42bps) and long (-27bps) segments, driven by demand for the FEB-2031 (-56bps), MAR-2036 (-49bps) and JUN-2038 (-65bps) bonds, respectively.
Kindly see below our Mutual Fund prices and returns as of today.
