September 29, 2026/Cordros Report
EQUITIES
The local equities market closed today’s trading session on a bearish note, as losses in BUACEMENT (-3.1%), GTCO (-3.3%), UNILEVER (-8.6%) and ZENITHBANK (-1.0%) caused the All-Share Index to close lower by 0.3% to 251,913.19 points. Consequently, the Month-to-Date and Year-to-Date returns settled at +3.2% and +61.9%, respectively.
The total volume traded declined by 45.9% to 548.67 million units, valued at NGN34.30 billion, and exchanged in 47,301 deals. GTCO was the most traded stock by volume and value at 48.84 million units and NGN11.73 billion, respectively.
Sectoral performance was mixed as the Banking (-0.9%), Industrial Goods (-0.9%) and Consumer Goods (-0.8%) indices declined, while the Insurance (+0.4%) index advanced. Meanwhile, the Oil & Gas index closed flat.
As measured by market breadth, market sentiment was negative (0.8x), as 27 tickers gained relative to 32 losers. SOVRENINS (-9.9%) and UNILEVER (-8.6%) led the laggards, while NPFMCRFBK (+10.0%) and LIVINGTRUST (+10.0%) posted the most significant gains of the day.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,330.30/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 28bps to 20.9% despite inflow from OMO maturities (NGN2.43 trillion).
The Treasury bill secondary market traded on a quiet note as average yield remained unchanged at 17.8%. Meanwhile, the average yield contracted by 5bps to 18.9% in the OMO segment.
The FGN bond secondary market traded on a bearish note as the average yield expanded by 5bps to 15.7%. Across the curve, the average yield expanded at the short (+15bps) end driven by selling pressure on the MAR-2027 (+103bps) bond. Conversely, average yield contracted at the mid (-2bps) segment, reflecting demand for the MAY-2033 (-17bps) bond, while average yield in the long end remained unchanged at 15.1%.
Kindly see below our Mutual Fund prices and returns as of today.
