October 7, 2026/Cordros Report
EQUITIES
The Nigerian equities market closed today on a bearish note, as losses in TRANSCORP (-2.7%), GTCO (-0.8%), UBA (-1.2%), and ETI (-1.5%) caused the All-Share index to close lower by 0.1% to 250,096.75 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -0.4% and +60.7%, respectively.
The total volume traded declined by 22.8% to 447.00 million units, valued at NGN22.95 billion, and exchanged in 38,905 deals. ZENITHBANK was the most traded stock by volume and value at 34.90 million units and NGN4.74 billion, respectively.
Sectoral performance was mixed, as the Banking (-0.4%), Oil & Gas (-0.1%) and Consumer Goods (-0.1%) indices declined, while the Insurance and Industrial Goods indices closed flat.
As measured by market breadth, market sentiment was negative (0.8x), as 23 tickers gained relative to 30 losers. THOMASWY (-9.7%) and SOVRENINS (-7.6%) led the laggards, while TRIPPLEG (+10.0%) and CMFC (+9.9%) posted the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 3bps to NGN1,331.96/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate expanded by 11bps to 20.7% 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 8bps to 17.9%. Across the curve, the average yield contracted at the short (-1bp) end, due to demand for the 71DTM (-1bp) bill, but expanded at the mid (+3bps) and long (+20bps) segments, driven by selloffs of the 99DTM (+300bps) and 281DTM (+52bps) bills, respectively. Elsewhere, the average yield contracted by 16bps to 18.5% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bearish note as the average yield expanded by 10bps to 15.8%. Across the benchmark curve, the average yield expanded at the mid (+5bps) segment, due to sell pressures on the MAR-2036 (+48bps) bond. The average yield closed flat at the short and long ends.
Kindly see below our Mutual Fund prices and returns as of today.
