November 2, 2026/Cordros Report
EQUITIES
The domestic bourse opened the week on a mildly bearish note, as selloffs in ARADEL (-10.0%), INTBREW (-8.6%), ZENITHBANK (-2.5%) and ACCESSCORP (-7.3%) weighed on market performance, dragging the All-Share Index down by 1bp to 254,268.81 points. Consequently, the Month-to-Date and Year-to-Date returns settled at 0.0% and +63.4%, respectively.
The total volume traded declined by 48.2% to 517.26 million units, valued at NGN47.48 billion, and exchanged in 54,015 deals. HONYFLOUR was the most traded stock by volume at 74.19 million units, while DANGCEM was the most traded stock by value at NGN13.44 billion respectively.
Sectoral performance was mixed as the Oil & Gas (-3.8%), Banking (-1.8%) and Consumer Goods (-1.2%) indices declined while the Industrial Goods (+3.3%) and Insurance (+0.9%) indices advanced.
As measured by market breadth, market sentiment was negative (0.5x), as 21 tickers gained relative to 42 losers. CHAMPION (-10.0%) and SUNUASSUR (-10.0%) led the losers, while CONHALLPLC (+10.0%) and LIVESTOCK (+9.8%) posted the most significant gains of the day.
CURRENCY
The official FX rate depreciated by 0.1% to NGN1,348.05/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 13bps to 20.3% 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 2bps to 17.9%. Across the curve, the average yield contracted at the short (-3bps) and mid (-3bps) segments, driven by the demand for 87DTM (-3bps) and 171DTM (-3bps) bills, respectively, but remained unchanged at the long end. Similarly, the average yield contracted by 3bps to 18.6% in the OMO segment.
Elsewhere, trading in the FGN bond secondary market was quiet, albeit with a bullish tilt, as the average yield contracted by 1bp to 16.2%. Across the benchmark curve, the average yield contracted at the long end (-2bps), driven by the demand for the JUN-2038 (-9bps) bond, while it remained unchanged at the short and mid segments.
Kindly see below our Mutual Fund prices and returns as of today.
