November 3, 2026/Cordros Report
EQUITIES
The domestic bourse closed today’s session on a positive note, as gains in INTBREW (+6.5%), TRANSPOWER (+3.7%), ZENITHBANK (+0.8%), and STANBIC (+1.2%) caused the All-Share index to close higher by 1bp to 254,289.35 points. Consequently, the Month-to-Date and Year-to-Date returns settled at 0.0% and +63.4%, respectively.
The total volume traded advanced by 1.6% to 525.44 million units, valued at NGN22.61 billion, and exchanged in 39,078 deals. ZICHIS was the most traded stock by volume at 127.48 million units, while ARADEL was the most traded stock by value at NGN2.95 billion.
Sectoral performance was mixed, as the Consumer Goods (+0.1%) index advanced, while the Insurance (-1.2%) index declined. The Oil & Gas, Banking and Industrial Goods indices closed flat.
As measured by market breadth, market sentiment was negative (0.6x), as 20 tickers gained relative to 32 losers. UPL (+9.5%) and OMATEK (+8.6%) led the gainers, while FTGINSURE (-10.0%) and VITAFOAM (-10.0%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 0.1% to NGN1,347.43/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate contracted by 18bps to 20.2%, following inflows from OMO maturities (NGN2.02 trillion).
The Treasury bill secondary market traded on a quiet note, as the average yield remained unchanged at 17.9%. Across the curve, the average yield contracted at the mid (-1bp) and long (-2bps) segments, driven by demand for the 177DTM (-1bp) and 338DTM (-16bps) bills, respectively but expanded at the short (+4bps) end, driven by selloffs of the 65DTM (+41bps) bill. Meanwhile, the average yield expanded by 1bp to 18.6% in the OMO segment.
Elsewhere, activities in the FGN bond secondary market were quiet as the average yield remain unchanged at 16.2%.
Kindly see below our Mutual Fund prices and returns as of today.
