October 20, 2026/Cordros Report
EQUITIES
The domestic equities market closed on a bullish note as buying interest in HBMNG (+6.8%), UNILEVER (+5.8%), NASCON (+7.2%) and CUSTODIAN (+4.6%) caused the All-Share Index to advance by 0.3% to 245,911.13 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -2.1% and +58.0%, respectively.
The total volume traded declined by 0.2% to 348.75 million units, valued at NGN25.88 billion, and exchanged in 38,707 deals. UBA was the most traded stock by volume at 48.14 million units, while ARADEL was the most traded stock by value at NGN5.11 billion respectively.
Sectoral performance was mixed as the Industrial Goods (+1.2%) and Consumer Goods (+0.3%) indices advanced, while the Banking (-0.2%) and Insurance (-0.2%) indices declined. Meanwhile, the Oil & Gas index closed flat.
As measured by market breadth, market sentiment was positive (1.3x), as 28 tickers gained relative to 21 losers. AUSTINLAZ (+10.0%) and ABCTRANS (+9.9%) led the gainers, while LIVESTOCK (-9.8%) and GUINEAINS (-7.8%) posted the most significant losses of the day.
CURRENCY
The official FX rate depreciated by 2bps to NGN1,333.55/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 14bps to 20.2% following inflows from OMO maturities (NGN2.07 trillion).
The Treasury bill secondary market traded on a quiet note as the average yield remained unchanged at 17.8%. Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments driven by the demand for 93DTM (-1bp) and 184DTM (-1bp) bills, respectively while it expanded at the long (+1bp) end due to sell pressure on the 338DTM (+38bps) bill. Meanwhile, the average yield contracted by 2bps to 18.6% in the OMO segment.
Elsewhere, the FGN bond secondary market traded on a bearish as the average yield expanded by 2bps to 16.3%. Across the benchmark curve, the average yield expanded at the long (+6bps) end due to sell pressures on the MAR-2050 (+44bps) bond while it contracted at the mid (-2bps) segment due to demand for the FEB-2034 (-12bps) bond. The average yield remained unchanged at the short end.
Kindly see below our Mutual Fund prices and returns as of today.
