October 22, 2026/Cordros Report
EQUITIES
The local bourse closed on a negative note today, as losses in INTBREW (-4.7%), WEMABANK (-3.3%), ZENITHBANK (-0.4%) and NGXGROUP (-4.7%) caused the All-Share Index to close lower by 0.1% to 244,956.94 points. Consequently, the Month-to-Date and Year-to-Date returns settled at -2.5% and +57.4%, respectively.
The total volume traded advanced by 1.9% to 360.75 million units, valued at NGN20.32 billion, and exchanged in 31,401 deals. LIVESTOCK was the most traded stock by volume at 40.97 million units and ARADEL was the most traded stock by value at NGN4.34 billion.
Sectoral performance was negative as the Insurance (-0.5%), Consumer Goods (-0.3%), Banking (-0.2%) and Oil & Gas (-0.1%) indices declined, while the Industrial Goods (+0.1%) index closed higher.
As measured by market breadth, market sentiment was negative (0.4x), as 15 tickers gained relative to 22 losers. THOMASWY (-10.0%) and AUSTINLAZ (-8.8%) led the laggards, while AVACAP (+9.9%) and PZ (+8.6%) posted the most significant loss of the day.
CURRENCY
The official FX rate depreciated by 0.8% to NGN1,346.05/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 20.3% in the absence of any significant inflows into the system.
The Treasury bill secondary market traded on a bearish note, as the average yield expanded by 3bps at 17.9%. Across the curve, the average yield contracted at the short (-1bp) and mid (-1bp) segments, driven by demand for the 91DTM (-1bp) and 182DTM (-1bp) bills, respectively, but expanded at the long (+10bps) end, following profit-taking activities on the 294DTM (+61bps) bill. Meanwhile, the average yield contracted by 5bps to 18.5% in the OMO segment.
Elsewhere, activities in the FGN bond secondary market was bullish as the average yield contracted by 2bps at 16.2%. Across the curve, the average yield contracted at the mid (-5bps) and long (-2bps) segments due to demand for the JAN-2035 (-13bps) and JUN-2038 (-7bps) bonds, respectively, while it remained unchanged at the short end.
Kindly see below our Mutual Fund prices and returns as of today.
