November 4, 2026/Cordros Report
EQUITIES
The Nigerian equities market traded on a bullish note, as gains in GTCO (+5.1%), TRANSPOWER (+10.0%), ZENITHBANK (+2.7%), and UBA (+2.7%) caused the All-Share index to close higher by 0.2% to 254,762.81 points. Consequently, the Month-to-Date and Year-to-Date returns settled higher at +0.2% and +63.4%, respectively.
The total volume traded advanced by 5.1% to 552.29 million units, valued at NGN37.45 billion, and exchanged in 32,815 deals. ZICHIS was the most traded stock by volume at 127.48 million units, while FIRSTHOLDCO was the most traded stock by value at NGN12.67 billion.
Sectoral performance was mixed, as the Banking (+0.7%) index advanced, while the Insurance (-0.5%), Consumer Goods (-0.1%) and Oil & Gas (-0.1%) indices declined. The Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was positive (1.2x), as 27 tickers gained relative to 23 losers. TRANSPOWER (+10.0%) and CAVERTON (+9.8%) led the gainers, while ETERNA (-9.9%) and SOVRENINS (-9.9%) posted the most significant losses of the day.
CURRENCY
The official FX rate appreciated by 3bps to NGN1,347.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate closed flat at 20.2%.
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 (-1bp) and long (-4bps) ends, driven by demand for the 93DTM (-1bp) and 176DTM (-1bp) bills, respectively, but remained unchanged on the mid segment. Meanwhile, the average yield contracted by 2bp 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.
